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The NYSE McClellan Oscillator worked a tiny bit of its near term overbought condition off but is still quite high. Remember, when we are in bull market mode often these overbought conditions are not worked off by any serious selling – instead we get mild down days or small flattish type action.
The S&P is the index to watch tomorrow. It has reached an inflection point: either it breaks 1,990 or it bounces off it. A bounce off may be nothing more than a delay, particularly if the Nasdaq continues to push higher. Note, technicals for this index are net bullish.
Good Morning Old_Skeet. I don't think that market dip will happen today. Earlier most of Asia was green. The China indexes took some small losses. Everyone else for the most part kept the bull market going.
Early futures in the US show another open to the plus side.
Enjoy the ride while it lasts. I did sweep profits from ARVYX which has done well. Hard to say when the switch will be turned off on this hot market.
I sold off three funds, of my fifty two, awhile back and parked the proceeds in cash. Thus far I have only deployed about 25% of these proceeds back into the market. Although, I have done a little buying, thus far, I still have a good amount of cash targeted to go back into the market. Let's see we still have September & October to transverse. Perhaps a good dip, or better, will present itself by then.
A good number of investors hate to see the dips, and pull backs, when they arrive ... but, I take them as opportunity. For if one has rolled out of some stuff they no longer wish to own then the dips, and pull backs, present themselves as buying opportunity to roll back into other more productive areas. I look at some of my positions as crops in the field. If they are not harvested then they stand a good chance to wither.
Comments
Early futures in the US show another open to the plus side.
Enjoy the ride while it lasts. I did sweep profits from ARVYX which has done well. Hard to say when the switch will be turned off on this hot market.
I sold off three funds, of my fifty two, awhile back and parked the proceeds in cash. Thus far I have only deployed about 25% of these proceeds back into the market. Although, I have done a little buying, thus far, I still have a good amount of cash targeted to go back into the market. Let's see we still have September & October to transverse. Perhaps a good dip, or better, will present itself by then.
A good number of investors hate to see the dips, and pull backs, when they arrive ... but, I take them as opportunity. For if one has rolled out of some stuff they no longer wish to own then the dips, and pull backs, present themselves as buying opportunity to roll back into other more productive areas. I look at some of my positions as crops in the field. If they are not harvested then they stand a good chance to wither.
Old_Skeet