Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

The Grind goes on

By

PrintPRINT
The fun of writing for Minyanville is that it is an educational and entertainment platform vs. a telling you what to do type platform. As Toddo says, "give someone a fish, they eat dinner...teach someone to fish they can eat forever." The reason I bring this up is that I want to respond to a reader who was somewhat confused that I have been saying over the past couple weeks that I thought there could be an oversold rally that would allow for a retest of the post October highs, yet I said earlier that I was surprised the market wasn't down more given the introduction of new news (ie, North Korea, etc).

I still think that there is potential for an oversold rally AND I am surprised that the market hasn't moved lower on the recent news. Please remember that even though I am filling in for Toddo who is a trader and needs to work each nuance of the market, that isn't what I do or why I am here. I see my roll as trying to get the next wave vs. guide you through each and every hour of the day. There is no way I could fill Toddo's shoes in that regard. Even if there is a little more downside before the bounce, I just don't think selling into a low volume grind lower makes a lot of sense in a deeply near-term oversold condition because selling now could look smart now and then in a few days the market could be higher than the sale price.

Again, I am not qualified (certainly not as Toddo is) to catch each wiggle. I need to catch the next important move in an overall strategy. I continue to believe that the intermediate-term picture limits sustainable upside, but also believe that the better time to sell is on a bounce, which sets the stage for a decline as both the near and intermediate-term indicators uniformly lose momentum, while not being oversold.

Again, this is just my opinion and you need to do what is right for you and what you are comfortable with and only you can decide what that is - hopefully with the help of a financial advisor.
< Previous
  • 1
Next >
Ho ho Doh!
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE