My accounts have been on a roll lately... but, I’m starting to get nervous. KEX, COP, WLK, and FB are my biggest holdings...
I just completed a two week trip through Asia (Singapore, China, Thailand). Things definitely seem to be slowing down over there. NO ONE in China has any cash. Customers everywhere are paying late, or not at all. Our company has moved to “Cash up front” only for doing business.
Have you noticed the collapse in pricing for iron? It’s a decent leading indicator, IMO. Business, globally, is slowing.
I fear that 2nd QTR US GDP is not going to rebound as much as people think. It may start out positive, but... after final revisions it might even be negative again. If that’s the case, earnings in this quarter may not be all that great.
Eventually... the market should have to recognize the lack of growth.
I’ll be watching the market closely today. If all goes okay I’ll be taking some off of the table today. July could be very interesting and I’m getting nervous as well.
Donno about other traders but I’m getting all kinds of conflicting signals —even from the same sources. Like, last Friday IBD announced that stocks jumped in higher volume w/ the NASDAQ closing at a decade+ high, and right now I’m finding out that volume only jump because some indexes changed stocks and that made index funds buy/sell. Their bottom line is that this rally is pooping out.
“My accounts have been on a roll lately... but, I’m starting to get nervous. KEX, COP, WLK, and FB are my biggest holdings...”
A little advice if you aren’t doing it, keep your Stop Loss orders up to date with the maximum % of loss you can stand. Don’t get greedy.