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This might be considered to be the trading range. Low of 1920 in late May and high of 1988 last week.
Clearly a range for over 2 months. Bears use the failure to get to and break through 2000 as part of their case.
No offense, but I'm glad I don't have to worry about all these trading ranges and macro worries. I'm not worried at all about Mr Market, my stocks will either go up in value or go on sale, and I get to take advantage of it either way.
Think about it - if your local liquor store decided to put all beer brands on sale at 20% off, you would want to run down there and stock up on your favorite beer while the sale was on, but you wouldn't worry about all the other brands, would you? Nor should you worry about the quality of the beer - the whole store is on sale because of whatever foolish reason the store owners have for running the sale, not because there's anything wrong with your brand. You'd be crazy not to take advantage of the this and stock up during the fire sale, wouldn't you?
It amazes me how much people love a good sale or bargain in every single thing they buy in life, but flee the market at the slightest sign of a sale on their favorite stocks.
The only one who ever correctly predicted what the market would do was JP Morgan, who, when asked what he thought the market would do next, replied "I believe the market will........fluctuate."
Last edited by treasurekidd; 07-28-2014 at 07:28 PM..
This might be considered to be the trading range. Low of 1920 in late May and high of 1988 last week.
Clearly a range for over 2 months. Bears use the failure to get to and break through 2000 as part of their case.
There are traders and there are investors. The number of traders is decreasing and the number of investors increasing. The percentage of investors in active funds is decreasing and the percentage in passive funds increasing. The number of people who have lived with multiple large corrections only to see them bounce right back is increasing. Have more investors learned to be just that and sit tight and stay the course both up and down? If so doesn't that speak to less volatility which is the friend of big corrections. It takes a major differential between buyers and sellers to move a market quickly and are there really as many investors inclined to over react these days?
There are traders and there are investors. The number of traders is decreasing and the number of investors increasing. The percentage of investors in active funds is decreasing and the percentage in passive funds increasing. The number of people who have lived with multiple large corrections only to see them bounce right back is increasing. Have more investors learned to be just that and sit tight and stay the course both up and down? If so doesn't that speak to less volatility which is the friend of big corrections. It takes a major differential between buyers and sellers to move a market quickly and are there really as many investors inclined to over react these days?
As always, your observations are very astute. If I may add, there are fewer main street investors and those who panicked in 08-09 and lost a substantial amount of principal, are now out of the market. This may also be contributing to the reduction in violent volatility.
Personally, I think the market is consolidating for an uptrend at the end of the year. There seems to be substantial sector rotation and repositioning by the industry investors. Next year when QE starts to take hold we'll probably see stronger volatility and buying opportunities. I'm long my mega cap portfolio and accumulating cash to initiate another portfolio next year.
Wow, lots of futures in the red. Could be 48 hours of pain between now and the weekend.
Everything is in the red now, and still plunging. Great day for the shorts. S&P futures has lost 6 weeks worth of profits as of now.
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