Market Getting Bombed in the Overnight Session
Here is this week’s update. I was a bit busy this weekend and could not get my full newsletter out along with all of the little touches like ducks dancing to the Irish fiddle etc.
So this video is simply market update, but with US stock futures falling 2.5% overnight (as of 133AM – I do expect some kind of rally), I thought I’d get this update out to my readers asap:
Will the Market Bounce – How to Play?
Right now, it’s time to go slow and keep an even keel. We’re short some stuff and long boring dividend payers like real estate, utility type stocks and bonds. We also added gold a couple of weeks back – a starter position as gold is still in a long term downtrend.
But the short term is looking interesting.
We will look to add gold at the right times. As far as increasing shorts, we will keep what we have. We will tighten stops. And we will wait for another chance to short more. I expect a rally, likely off of some soothing words from a Federal Reserve official. Then a resumption down.
This might play out over weeks or a few months or days – who knows. The situation is fluid. So I will be fluid too!
Note – I don’t know you so when you watch my videos or read my stuff, remember I am not your advisor so please consult with an advisor who knows you well for advice on these matters.