DOW 23,000+ today?

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

  1. VoodooBoss

    VoodooBoss Rick Moderator

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    I don't think Brexit is going to have a major impact on the US markets or markets globally. Maybe a bit of short term volatility but nothing long term once the exit agreement is finalized. Shoot after it passed in June 2016 and the markets took a hit in the couple of days afterwards we were back to normal in a week. Now if the EU collapses that's a different story.
     
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  2. TymeSlayer

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

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    Apparently this anchor called the market is still seeking the bottom. I'm sticking to my plan and waiting till just before the holiday rally.
     
  3. 302BOB

    302BOB TMO Addict

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    That anchor may need a longer chain....I hope not!
     
  4. Grant 302

    Grant 302 OPM Spent: $587,402 Moderator

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    I see no harm in that. Price action today looks more like the bottom 'solidifying' more than anything else. Dumped all the short term hedges and rolled for cheap, out of the money stuff. I'm safe either way and made some good side-money this week to boot. Volatility is great when you're expecting or playing for it.

    Wifey even thanked me for advice on some of her stuff to sell on Mon and Tues. Happy wife...
     
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  5. Grant 302

    Grant 302 OPM Spent: $587,402 Moderator

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    Yes, still. :rolleyes:

    Had a hard tyme yesterday reacting to the bounce potential. Slowly reinforcing the hedge side this morning.
     
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  6. 302BOB

    302BOB TMO Addict

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    No risk, no gain...or No risk, no loss......You have to decide which game to play...gambling is called that for a reason.........
     
  7. Grant 302

    Grant 302 OPM Spent: $587,402 Moderator

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    Magic_8_ball_-_MY_SOURCES_SAY_NO_(14105579743).jpg


    ...

    It's just legal is all. Oh, and taxable...:rolleyes: :(
     
  8. TymeSlayer

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

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    22,799 at 2:03 Eastern tyme
     
  9. VoodooBoss

    VoodooBoss Rick Moderator

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    Not looking good, how low can it go?
     
  10. Grant 302

    Grant 302 OPM Spent: $587,402 Moderator

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    No worries here. Still looking for the point to start deploying excess cash for long haul. Not looking for perfect tyming, but Tyme might have it right with pre-holiday prediction. Could have done better with more collar than hedge for this last leg down. Just didn't want to cap the upside for the stuff carrying long term gains. Especially for tax reasons.
     
  11. TymeSlayer

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

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    Not sure if Santa can bring any salvation to this box of rocks in the deep blue sea. Tomorrow was my original moving day plan but teetering now. WTF are the Feds thinking here? Two more hikes next year too boot? Of course they know something I don't but I'll play nice and move some cash tomorrow. I'm actually hoping for a nice dip in the morning.
     
  12. 302BOB

    302BOB TMO Addict

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    It may all depend on if you've been naughty or nice...the Misses' may have some input here.......be careful boys.....
     
  13. Grant 302

    Grant 302 OPM Spent: $587,402 Moderator

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    In the bigger picture and looking long term, this is still just a little dip. And from the macro econ view, I think rates need to rise. Impacts from '07+ still need to unwind and settle here and globally.
     
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  14. 302BOB

    302BOB TMO Addict

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    Hang on to your hats!!!!!.....:eek:
     
  15. TymeSlayer

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

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    BUY BUY BUY
     
  16. Grant 302

    Grant 302 OPM Spent: $587,402 Moderator

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    Dragging my feet on that. Maybe next week or the one after. Gonna let the price action tell me when.
     
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  17. Fat Boss

    Fat Boss TMO Addict

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    I still have a 401k loan to myself for funds I borrowed to buy a house. I made a big (25% of the balance) payback to myself today. I like buying in "not at the top."
     
  18. TymeSlayer

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

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    Can we rename this the Dow 21,000 - yet? So much for the Santa rally. The bears are setting up for a long haul.
     
  19. 302BOB

    302BOB TMO Addict

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    Not just yet...Santa may something for your stocking in a while...............
     
  20. Grant 302

    Grant 302 OPM Spent: $587,402 Moderator

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    How about '23,000-' ? Doesn't quite have the same ring to it...

    Anyway, I think we're nearing a lower limit as I see it on the weekly charts. ~21,250 has been on my radar to cash in (not roll as much this time) hedges. What I do get will be cheap and relatively far out of the money like for 18,500 and maybe something in-between for the short term. Sharp bounce could happen any day...as soon that the 'news' permits. Dip buyers this morning certainly got pinched a little.
     
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