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DrStool

Nothing Has Happened Yet 5/29/20

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Somehow this doesn't feel like a buy the dip moment.

 

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42 minutes ago, DrStool said:

Somehow this doesn't feel like a buy the dip moment.

 

 I think the averages may struggle as suspected anti MAGA corporations will suffer, till they fall in line.

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There's an unexcited irony to the title of this thread.

I'm pretty sure something has happened at this juncture.

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I HAVE EXITED MY MARCH POSITION

I sold my equity position I took on in end March today.

I just think that the probability of the trade still being the correct one has deteriorated below the 50% line.

I was 90% confident in buying in end March that we would have a nice bounce.

Powered to course by the pavlovian response to the Fed bail out.

But the pavlovian response is long in the tooth.

It appears to be running out of steam.

And reality is intruding in a big way.

Because stocks arnt cheap at these levels.

And the economy has yet to recover.

Looking at the charts the rally appears to be struggling.

The Fed bail out rally has to roll over sometime.

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