More downward direction. Death cross technical indicates a long term correction.
PE ratios need to get down to 12 or better for a buying opportunity to exist.
For your edification?
and the beat goes on....
People get ready, a correction's comin'.
More vacations for Hussein at Martha’s Vineyard.
More desecration of America’s fighting forces.
More surrender to Muslim terrorists.
More surrender to dictators in the Caribbean.
More denigration of the labor force.
More degeneration of the rule of law.
More ignoring of the Constitution.
More shredding of the Judeo-Christian ethic and moral aptitude of the West.
More destruction of wealth, prosperity and free markets.
“investors should wait for autumn”...
When the congress will raise the debt ceiling and increase spending.
Free money for everyone- there’s no problem that politicians can’t solve by spending more.
What’s next? Friday!
It sucks if you are on margin.
Otherwise, chill.
I look at new highs vs. new lows trend. It is not bearish yet and has a ways to go before it triggers. If it triggers, there’s only a one in three chance that action will pay off.
Plus it is August and September, bad market months in general.
Look for buying opportunities in strong companies with a consistent dividend payment history. Also, look at what they produce and the demand for such products/services in an economic slowdown. As a retiree, I now focus on dividend stocks versus growth stocks. My intent is not to accumulate as much as provide an income stream. My greatest risk is to inflation so I do have a smaller percentage allocated to growth. Unfortunately my assets are primarily in my IRA and I have to take withdrawals or pay additional tax yearly. This means my annual income will decline with age. Hence my wife and I are trying to do as much on the bucket list as we can while “young” and refuse to incur debt. We moved from a high COLA (cost of living area) to a lower COLA so we could have a home without a mortgage for the first time in our lives. So far this strategy has worked well for us and we don’t miss the traffic of congested city life.
DOW down 250...