Tuesday, August 2, 2016

High on... Nothing


That's the chart of the SPY (ETF of the S&P500) and it looks crazy to me.

I've been bearish for the longest time and I've also been wrong for the longest time.

However, the good thing about investing / trading is that you only book the profits or losses once you close out your trade. Those unrealized profits aren't real profits until you close your position.

Easy come, easy go. Schrodinger's profit.

I am still expecting a bloodbath. I'm hearing more and more rumblings. Perhaps once it's screaming and ringing a bell, then people will realize the absurdity of the markets.

I'm also expecting the local markets to perform poorly in the near term.

2 comments:

  1. “The market can stay irrational longer than you can stay solvent.”

    ReplyDelete
    Replies
    1. Timely reminder.

      Bull markets are born on pessimism, grown on scepticism, mature on optimism and die on euphoria. - John Templeton

      This market has no euphoria. Just sloshing cash and scepticism.

      Delete

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