culdeus said:
tbh, I mainly follow
@siffoin here. Dude seems to know stuff. Anything else you homos post is mostly noise.
That dude says sell I'd probably just cash it all in that day.
Guy basically called this bounce back, and also said late 2019 would black swan. I'm waiting for an update on that part.
Let's start by getting a few things corrected.
#1: I'm a ####### in general. This can be verified by family and friends.
#2: My take on the overall LT Market Trend has been consistent for almost 3 years. IT'S BULLISH. I post the LT chart almost every month on Twitter and the only change is the new monthly bar as time moves forward. The mini-crash in Oct-Dec was one where the Daily (ST Charts) were bearish (indicating a need for concern/hedging protection/plan development). However the LT Trend NEVER turned bearish (although it was mighty close).
#3: Aggressive followers of the LT Trend had an excellent opportunity to buy near the Dec low at support levels. These support levels were posted a number of weeks prior to the $SPY hitting those levels too ($SPY @ $240ish).
#4: If/When the market turns bearish in the future, it is my belief that the initial drop will be followed by a bounce back towards the old highs. Meaning - if/when the market ever turns bearish there are decent/high odds that you would be able to exit positions above that first punch to the face. Obviously - this requires some careful monitoring and a level of acceptance that "timing" is Not a Game of Perfect. (but the same holds true for buying at support in a bull market- you're not looking for perfection just trying to be "good enough/bold enough"). It is a process of LT market trends when they flip and might take a couple months+ to unfold.
#5: Where I sit right now...I think if/when the market turns bearish - that bear trend will likely last at a minimum of 9 months...more likely it will last 3-5 years. And there will be massive bullish spikes all the way to that eventual bottom.
#6: Black Swan event. I don't recall this but I'm not saying I didn't either. Remember I'm a #######. Personally, I believe that there are so many global risks out there that any one or combination of could result in a quick flip from Bull to Bear. My Black Swan nightmare is multiple SHTF events occurring at the same time.
#7: My personal observation of the LT Trend would suggest that - at a minimum - we are a few months from even being able to call a bear market. Is it possible that the highs are in? Yes. But we need to close below $SPY $275ish on a monthly chart before a LT Trend change will occur. And $275ish is a long way from here. That's why I'd say a few months of drift down would be the best and soonest Bear case. Again - my opinion would be a trend flip sometime in the late summer early fall. But understand- I'm NOT saying the trend WILL flip then...just that time frame would fit for a potential trend flip where we sit today.
#8: It's difficult for me to find much value in stocks these days. So the best case for "trading for ST gains" is momentum fliers. If you want my honest opinion - all of us should just be long the $SPY - set it and forget it until the trend changes.
#9: Follow up to #8. I can't quantify it for you...but to me it seems that the risk of new long positions might not be worth the potential reward. When $SPY was at $240ish in December I felt differently. To put it in laymans terms - generally speaking it seems like where we are at now best case is to risk $1 to make $.80. That's uncomfortable.
#10: Like always I reserve the right to change my mind. I think the LT chart posted should keep you safe enough to help determine market trend - not un-scarred - but safe enough. But remember if you check that chart out please do your own due diligence and not blindly follow the opinion of a #######. Good luck!
Twitter link to chart.