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
- The Future Of Cannabis | ZeroHedge
- Bank Of America Forecasts No Recession Until 2027 (If Ever), Sees S&P At 3,500 In 10 Years | ZeroHedge
- Profound Political Disunity Is Now Pitting Rising Elites Against Fading Elites | ZeroHedge
- Charting The Full Impact Of Europe's Plunging Currency On U.S. Corporate Revenues | ZeroHedge
- Atlanta Fed Slashes Q4 GDP Forecast | ZeroHedge
- On Credit Default Swaps | ZeroHedge
- President Obama Explains Why Americans Should Keep Calm & Spend Amid Global Terror Alert - Live Feed | ZeroHedge
The most relevant financial news and articles from the Internets
- Amazon pulls controversial Nazi-themed 'Man in... | Business Insider
- The way knives are made is insanely complicated — and mesmerizing to watch. | Business Insider
- Paris attacks: Suspect quizzed, Brussels still in lockdown... | Business Insider
- UK mobile carrier O2 is in the 'well advanced' stages of looking... | Business Insider
- Lots of people in London are betting this will be... | Business Insider
- A's acquire Jed Lowrie from Astros for minor league... | Business Insider
- Gambling to feature at New York daily fantasy sports... | Business Insider