While a song lyric from hair metal band Poison (how did that lead singer get a reality show?), "what the hell is going on?" is my new mantra. Yes, some may say it has been my M.O. for years and many others will say that it is theirs too, but haven't you noticed that the stock market has been making giant reversal after reversal lately?
It would not be unusual except that it is happening intraday. Up 100, down 70, flat, down 40, up 40 by the close. Yes, that was today for the Dow. It seems that everyone is saying what the hell is going on and that includes the people actually putting money at risk. Is everyone just guessing? Or so afraid to be left behind that they do no analysis whatsoever?
This is not a market for rational investors. What the hell is going on? I'm staying the hell out. or maybe I'll just hang on to my ultrashort S&P ETF.
1 comment:
I'm with you. I'm 40% in ultrashort right now, the rest in cash. Ominous.
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