I keep seeing more and more articles like this and it is giving me the idea that being short this market is the correct trade.
"More ugly market action on Friday. Bonds fell to a new low and the yield curve steepened (led by long rates) despite a big drop in consumer sentiment. And the dollar continued to fall... In these two moves, we can see big money [taking] the opportunity to sell into good news, overwhelming short term traders. U.S. and global stocks are cracking under the pressure of rising rates."
It would have been better to have gotten short when the market was trading at 7 year highs but it doesn't seem to be too late. I keep seeing these rallies crap out in the last few hours of trading. I remember reading somewhere that that was a bad sign. Whatever the case carrying a big cash position may be a good deal in the coming months. I think the market will be on sale here before too long and it will be time to get in there and buy on the cheap.
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