DOW 23,000+ today?

[Grant 302]

Chasing down those few buyers out there.This is just the dip you guys were predicting.........right????

Predicting is a funny word. And agreed with Tyme that this action is more part of the correction in the Oct. activity...this is part of what follows, IMO, in order to establish any new 'base'. Lows often need to be retested. As long as markets don't breach the Feb. / Apr. / May lows, I'm not worried about any major reversal. Markets move more like battleships and are very slow to make actual turns. Don't focus so much on the 'chop'...unless you play with it like I like to.

 

[Grant 302]

Although I go thru life seeing the glass half-full, most people think I'm full of it.

Even when I'm right, people still think I'm full of it!

There were a couple of things my dad was looking at and buying incrementally that we were talking about on Monday. He was already ~20% in and I was grilling him about why he bought yet at all. I called price targets on both and that buying sometime at those levels *or* waiting until Dec. or 'confirmation' of the dip in price action would make more sense.

I'm sure when I talk to him next, that I won't have said any of what I said.

 

[TMSBOSS]

The obvious problem is. The glass is twice the size as it should be.

 

[302BOB]

Would that make it full for a regular size glass?..or is it being downsized to a shot glass?

 

[Grant 302]

The obvious problem is. The glass is twice the size as it should be.

lol. Are we talking about a mirror now?

Still, I'd rather go through life seeing the glass half full rather than spending my life running around like Chicken Little.

I am thankful everyday for the Chicken Littles of the market and all other manner of 'Liquidity Providers'. Odds are you're doing okay if you aren't wearing either of those labels.

 

[Grant 302]

Now how many chicken little sellers last week are regretting it...

Bounce is decent. Looking next for a test of about 26,200 after some sideways action.

 

[302BOB]

You boys had a good today..........enjoy!!!!!!!!!!

 

[CA302LS]

Nikkei 225 up tonight...

If Trump and Xi can reach a favorable trade agreement at G20 - I think we'll see another step up like today's Powell effect.

 

[Grant 302]

Nice move and a positive close for the month.

 

[CA302LS]

Appears the Trump/Xi trade cease fire this past weekend at G20 is sending Asian markets up tonight, along with domestic futures. Will we see the Indexes recover their peaks by year end?

 

[VoodooBoss]

Hopefully!

 

[Grant 302]

Sounds optimistic to me. Topping off on short term hedges. Will add more end of day if the markets close significantly lower than this gap-up open. And I think that's likely with the price action so far. I don't usually trade 'gaps', but a lot of people do and they often do need to be 'closed'.

For long-term stuff, I'm wash-selling a few things today and taking some unrealized capital gains I've been sitting on in preparation for closing out the year. Always fun managing tax loads.

 

[Grant 302]

Wow. That proved to be tymely action... Selling and rolling most of the hedges. Pays to 'insure' those gains once in a while.

 

[TymeSlayer]

Still sitting on the side wondering it there isn't something political about all the big moves in both directions.

 

[Grant 302]

I wouldn't know. I've found that the news doesn't help my trading...so I turned the squelch down (or is it 'up' for higher suppression?)

Volatility comes from too many sources to 'account' for it all.

 

[TymeSlayer]

The media fish for answers when theres so much movement. I always get a kick out or their reasoning but I agree Grant, it usually is more than "The Job Reports". Not sure what to make of it but I have heard talk of political money trying to make the market look bad/good for the other side.

 

[302BOB]

The fish will bite if the bait is right.....

 

[Grant 302]

The media fish for answers when there so much movement. I always get a kick out or their reasoning but I agree Grant, it usually is more than "The Job Reports".

Exactly! There is a part of the market that trades the news, but it's my opinion that the market generally 'floods' that action and goes back to whatever it was doing prior.

Not sure what to make of it but I have heard talk of political money trying to make the market look bad/good for the other side.

I've heard that too, but didn't give it much thought. I suppose it's just rumours to support some political agenda rather than any real money used to manipulate. Market manipulation is just B.A.U. It just takes a lot of it. I only needed to trade oil to learn that lesson!

 

[302BOB]

New phrase just invented....Opportunity is the Mother of Investing........... Go for it!!!!!!!!!!

 

[CA302LS]

Here's an interesting theory about yesterday's drop in the Markets. If Brexit does go awry, we certainly can expect an impact to world economies. I'm not sure the Brits had thought the whole EU exit plan through when they voted back in June of 2016...

https://www.marketwatch.com/story/w...uesday-heres-an-interesting-theory-2018-12-05