DOW 23,000+ today?

Discussion in 'The Paddock' started by Grant 302, Oct 17, 2017.

  1. Grant 302

    Grant 302 OPM Spent: $509,979 Moderator

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    FWIW, Friday was showing pretty 'clear' short term topping action. Small 'bet' on weekly puts paying well. The guess was that we'll see selling in over the next 2-5 days (including today).

    Not ready to 'collar' everything just yet. 27k or 28k or higher by early next year. Probably before. Melt up action will be nice to play.
     
  2. TymeSlayer

    TymeSlayer Tramps like us, Baby we were born to run...

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    I moved a bunch to cash over the past few weeks. I'm skeptical that this meteoric rise can continue. A correction is afoot. Take the money and sit on the side for a bit and buy back in during the correction. This way I can buy more consumables for my Boss.
     
  3. Swine

    Swine TMO Advanced

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    No major case for a short term pull back yet. All indicators pointing solid green. Nothing wrong with your conservative approach though. Could be right regardless of indicators. But if you are even remotely active as in investor there is still opportunity to make hay and limit any down side exposure actively managing as things begin to roll over.

    Happy to own $SQ today. Shes up ~30% for me in the last month, plenty of skeletons i could talk about but this one is a winner so far. Trimmed off some profits and have the rest long.
     
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  4. Grant 302

    Grant 302 OPM Spent: $509,979 Moderator

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    I doubt it. It's a fairly long and solid base formed over the bulk of 2018. Already met the technical definitions for correction when it crossed below ~24,000 or so.

    Although I am enjoying the brief pullback predicted so far.
     
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  5. VoodooBoss

    VoodooBoss Rick Moderator

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    I’m still all in and I think the economy is on solid footing. Look for the next recession in 2020. Now if DPRK or Iran drops a nuke all bets are off.
     
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  6. 302BOB

    302BOB TMO Addict

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    It seems there's no limit to how far this will go........Just make sure you're riding it at the right tyme!..........That's the secret!!!
     
  7. Grant 302

    Grant 302 OPM Spent: $509,979 Moderator

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    ;):D
     
  8. 302BOB

    302BOB TMO Addict

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    Be careful boys! This may bite you where it hurts!!!.................OUCH!!!
     
  9. Fat Boss

    Fat Boss TMO Addict

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    What's a good auto insurance stock to get into? I'm CONVINCED the latest safety features are going to reduce claims by the boat load, while insurance premiums will not be lowered. Things like backup cameras, crash avoidance systems, and adaptive cruise control will all play a part in reducing claims.
     
  10. 302BOB

    302BOB TMO Addict

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    Sounds like a good strategy..I wonder how autonomous cars will affect the car insurance industry once they come on board?
     
  11. Grant 302

    Grant 302 OPM Spent: $509,979 Moderator

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    Moving like clockwork...knocking on the door of 27,000. Expecting the cross soon regardless. :D
     
  12. 302BOB

    302BOB TMO Addict

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    Word to the wise.....Inflation WILL always keep things moving forward! Everybody just hopes their returns keep up with it or get a little better....Go for it!!!Some of us make the right choice at the right tyme...those are the winners in this game.
     
  13. VoodooBoss

    VoodooBoss Rick Moderator

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    Inflation is better than deflation. You just don't want runaway inflation! When inflation starts to heat up that's when I'll start to worry a lot more. It's well in check at the moment but that could change quickly.

    While I'm retired I'm still in the annual market prediction contest where I worked. I just received an update and I'm winning, again.
     
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  14. 302BOB

    302BOB TMO Addict

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    Rick, You can't win if you ain't in...go for it!!!
     
  15. TymeSlayer

    TymeSlayer Tramps like us, Baby we were born to run...

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    Cash is King. Be tyme soon enough to look at buying back in.
     
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  16. Grant 302

    Grant 302 OPM Spent: $509,979 Moderator

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    Agreed about the cash. I'd need a bigger drop to consider another big buying cycle. Hedges are doing their job and I'll wait til the end of the week before I reposition/cash/roll any of it.
     
  17. VoodooBoss

    VoodooBoss Rick Moderator

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    Nice little correction today. Tomorrow could be interesting but I won't get excited unless were either -1% or +1% on the S&P. I'm watching this closely as I'm about to rollover my 401K and would like to time this positively if possible.
     
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  18. Big Black

    Big Black Good, fast<del>, and cheap</del>

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    Gritted teeth emoji, Rick. Bet your 401 isn't lunch money, but then again, mine isn't either.
     
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  19. TymeSlayer

    TymeSlayer Tramps like us, Baby we were born to run...

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    The correction continues... I am usually not this lucky.
     
  20. VoodooBoss

    VoodooBoss Rick Moderator

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    Well the S&P 500 moved below its 200 day moving average. We might have an actual correction on our hands.
     
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