Re: Financial topics
Posted: Fri Sep 11, 2020 11:23 pm
Generational theory, international history and current events
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This is mostly an admission that I have no idea what's going on. My last comment about my position was in August saying that I was short 10 lots and the market was more overvalued than it's ever been, in my opinion. Yet the S&P rose another 200 points before dropping about 300 points. So why get out here? Because I have no clue. And because next week is options expiration and the Fed, and the market tends to rise into those events.
The short term moving average has at last broken down below the 21 day moving average so I think we may well have the beginnings of a sharp and sustained down side. As I said a little while ago 'the party has begun'. I am not short at present but licking my wounds and anxious to recoup so I shall be watching so very closelyHiggenbotham wrote: ↑Sat Sep 12, 2020 6:30 pmThis is mostly an admission that I have no idea what's going on. My last comment about my position was in August saying that I was short 10 lots and the market was more overvalued than it's ever been, in my opinion. Yet the S&P rose another 200 points before dropping about 300 points. So why get out here? Because I have no clue. And because next week is options expiration and the Fed, and the market tends to rise into those events.
https://www.zerohedge.com/markets/anti- ... these-days«In the years since the Lehman bust in 2008, we have been living through the most speculative era in the history of mankind», says economic historian Edward Chancellor, author of «Devil take the Hindmost», a book about the history of financial speculation. While financial markets are pushed higher by ever lower interest rates, the substance of paper wealth is getting wrecked, he cautions.
«The very term bubble means that it must at some stage collapse», Chancellor says.
«Either it collapses politically by creating a swing of the political pendulum against it», says Chancellor in an in-depth conversation via Zoom – «or it will be the comeback of inflation which will end the bubble.»
The S&P futures are up 20 points tonight. I just sold December at 3344. Like I said, I have no clue how high any rebound might go, but this is better than where I got out, so I'll take it.richard5za wrote: ↑Sun Sep 13, 2020 10:40 amThe short term moving average has at last broken down below the 21 day moving average so I think we may well have the beginnings of a sharp and sustained down side. As I said a little while ago 'the party has begun'. I am not short at present but licking my wounds and anxious to recoup so I shall be watching so very closelyHiggenbotham wrote: ↑Sat Sep 12, 2020 6:30 pmThis is mostly an admission that I have no idea what's going on. My last comment about my position was in August saying that I was short 10 lots and the market was more overvalued than it's ever been, in my opinion. Yet the S&P rose another 200 points before dropping about 300 points. So why get out here? Because I have no clue. And because next week is options expiration and the Fed, and the market tends to rise into those events.