A Reason to Sell, Opportunity Knocks
We saw this pullback coming since last week and used that opportunity to exit stage right to 100% cash. The winner today is the iPath S&P 500 VIX Short Term Futures (VXX) up 8% everything else sucks.
Mastery warned to avoid stocks in Waiting to Trade. After all, why gamble all your winnings this year at this point? Now that the market has reacted with a knee jerk of selling, it's time to sit back and watch the chaos from Cashland. We recommend letting the bears take the reigns and wait to buy back possibly tomorrow or next week. If you must buy something today then consider a basket of stocks like the ProShares Ultra S&P500 ETF (SSO). It is difficult to know if the pullback is just temporary or if everyone starts buying in another hour.
We disagree with the Talking Heads, you have to time the market these days. There's too much at risk in a post Lehman Brothers World. Why let your gains be wiped out by panic and fear? Hang in there fellow investors and look to enter the SSO at $75 even. As we head into the final hour of trading the Dow Jones and S&P 500 are down big, 1.8% and 2% respectively.
Another sector to watch is the volatile silver miners, stocks like Silver Standard Resources Inc (SSRI) and Silver Wheaton (SLW) which hit new 52-week lows today. Silver is not useless, these types of bottoms are great opportunities to investors waiting in the wings.
CHART OF INTEREST
Best of the Blogs
Scanning and identifying the best blog entries every hour
- "I'm Not Stupid" Monsanto Lobbyist Refuses To Drink Weedkiller After Proclaiming "It Won't Hurt You" | ZeroHedge
- Are you Ready to Have Your Faces Chewed Off by Rabid Dogs? | iBankCoin.com
- Bonds & Crude Dump, The Dollar & Stocks Jump As Top Houthi Leaders Reportedly Killed | ZeroHedge
- Are We In A Biotech Bubble? You Decide | ZeroHedge
- Saudi Arabia and Iran Compete in Yemen | Financial Sense
- Three Triggers That Will Send Oil Crashing Again | ZeroHedge
- The Tried-and-True Blueprint for Raising Taxes | Financial Sense
The most relevant financial news and articles from the Internets
- Taylor Swift is 6th on Fortune's 'Greatest World Leaders... | Business Insider
- Nigeria claims key Boko Haram success on eve of polling | Business Insider
- Yahoo's recovery is so weak it will... | Business Insider
- The Best Business Schools of 2011 | BusinessWeek
- Court allows publication of Prince Charles letters to... | Business Insider
- Michael Sam says 'famous' NFL players have come out to him as gay | Business Insider
- Cheap petrol is sending British retail spending through the roof | Business Insider