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My advice is to stop checking the markets everyday — that’s what gives people stupid ideas and next thing you know they begin day trading based on greed and fear.
Now crypto on the other hand! Better check it often 🚀
Pro
Stonks only go up, because we like them.
Lol. No.
Rising Star
In a healthier market we’d see way more days like this throughout the year.
It's the start, it'll get serious late next week until April.
I was just regurgitating notes from my favorite report/analysis, nothing special. Fwiw, I'm heavy in GLD, GDX, SLV, URA, OIH and CLR into the summer/fall based on their guidance.
(Majority of my money is still in mutual funds, the money above is just money I play with in my brokerage)
I don’t consider a couple down days after a bunch of up days a correction. the sp 500 down a percent from its record high? Who knows where it will go but this has been an ordinary week
Futures look pretty bad right now
Agree I was being a little sarcastic about the futures looking bad now.
Pro
https://www.schwab.com/resource-center/insights/content/market-correction-what-does-it-mean#:~:text=The%20general%20definition%20of%20a,decline%20of%2020%25%20or%20greater.
Thanks D2
The SPX was down 0.71% for the week. That’s smaller than the intro-day move in many sessions.
Yes, the market is overbought and has run hard and fast for over three months. But you’re getting pretty good performance across the S&P sectors and the transports keep going up.
The small caps and SPACs are certainly at risk. We saw that Thursday. But VIX is at the low end of the range for the last 12 months.
Don’t get complacent and know what you would sell and what you would buy on a pullback. When and if the market goes wobbly, my guess is it will move down 5% kinda fast, but will go from down 6% to 10+% insanely fast.
Chief
Do you know what a correction is
Chief
Sure - it's not the correction 😁
MS 1 apparently not that’s why I’m asking.
Rising Star
It certainly could be the start of one. But nobody knows really. Before it’s a correction it has to drop a LOT more
Are you serious? The s&p was down only like 2% relax man
Yes serious and definitely relaxed haha!
The latest drop was interest rate driven
Shift in priorities in the White House.
Yes, please sell everything