Trend is your friend
Everything went down today.
Tomorrow does not look too great either.
Many investors are using interest rate increase (up another o.25%) as an excuse to sell. Good for us. There will be many stocks on sale soon. Yesterday I gave you a big picture. Basically there are only two (2) possible outcome:
1. Yesterday marked high for the year - stocks will fall and won't come back to the current level anytime soon.
2. This will prove to be a quick rest for stocks before continuing its upward trend.
As of now, I am leaning toward outcome #2. What will change my mind? If the market (SP500) goes below its 200day moving average. That means SP500 has to go down another 4% from here to below 1,250 (it is currently at 1,306). Yes, this is possible but I don't think so.
Let's remember one thing. We are not fortune tellers. We do not have a crystal ball that tells us the future. We do not know what will happen tomorrow. (Two days before I was diagnosed with Colon cancer last October, I was vacationing in Cheju Island in Korea, happy as a dog, feeling great - not knowing what was waiting for me). Believe me when I say we do not know what the future holds for us.
Then what are we? We are trend followers. There is a trend in the market. A very clear trend if you care to study them. We are currently in an uptrend ( I don't think anyone will argue with me on this) until this trend ends, I am bullish. Thus, I am bullish now.
When I turn bearish you will hear it from me on these pages.
Today, I just bought more of BTYH at $1.34 - this will move up no matter what the market does in the future. My target on this is over $2.50/share, so do what you have to do. Earnings will come out very soon and it will be a record I am sure.
I also added more of IDWD and AUTO. Although IDWD is a speculative play, I am willing to place a wager on this one. If the management is not lying to us, we will be rewarded very handsomely on this. If you are too shy to get into this, then just sit back and watch. I will tell you how the story ends in this blog. Read prior notes on these stocks if you are interested.
Get ready, the sale is going on now!
Tomorrow does not look too great either.
Many investors are using interest rate increase (up another o.25%) as an excuse to sell. Good for us. There will be many stocks on sale soon. Yesterday I gave you a big picture. Basically there are only two (2) possible outcome:
1. Yesterday marked high for the year - stocks will fall and won't come back to the current level anytime soon.
2. This will prove to be a quick rest for stocks before continuing its upward trend.
As of now, I am leaning toward outcome #2. What will change my mind? If the market (SP500) goes below its 200day moving average. That means SP500 has to go down another 4% from here to below 1,250 (it is currently at 1,306). Yes, this is possible but I don't think so.
Let's remember one thing. We are not fortune tellers. We do not have a crystal ball that tells us the future. We do not know what will happen tomorrow. (Two days before I was diagnosed with Colon cancer last October, I was vacationing in Cheju Island in Korea, happy as a dog, feeling great - not knowing what was waiting for me). Believe me when I say we do not know what the future holds for us.
Then what are we? We are trend followers. There is a trend in the market. A very clear trend if you care to study them. We are currently in an uptrend ( I don't think anyone will argue with me on this) until this trend ends, I am bullish. Thus, I am bullish now.
When I turn bearish you will hear it from me on these pages.
Today, I just bought more of BTYH at $1.34 - this will move up no matter what the market does in the future. My target on this is over $2.50/share, so do what you have to do. Earnings will come out very soon and it will be a record I am sure.
I also added more of IDWD and AUTO. Although IDWD is a speculative play, I am willing to place a wager on this one. If the management is not lying to us, we will be rewarded very handsomely on this. If you are too shy to get into this, then just sit back and watch. I will tell you how the story ends in this blog. Read prior notes on these stocks if you are interested.
Get ready, the sale is going on now!
posted by Jaewoo | 11:55 PM
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