We still are probably "no man's land" on the index charts, between the 50 dma and the 200 dma (btw, "dma" = day moving average - simple average). With a good CPI number this AM (viz., a decline in the year over year core CPI), maybe the approximate 38% retracement will be the extent of the correction.
I deployed some fresh cash in the Krypto Fund per prior post and my Alpha Fund has full allocations, but no margin. When I think we've made a base and an uptrend is imminent, I'll start to go on margin. And IIIFFF a new trend gets established, I'll go to 200% long in the Alpha Fund by buying dips.
Until those events occur, I'll wait. With a so-so or poor CPI number today, it might be a good time to take time off & do my taxes (arghhhhhhhhhhh).
PS: we got a blah number - neutral. the stock market will probably chop awhile, forming bases. Time to start preparing buy lists & watch for news.
About Me
- Bunkerman
- I have a pioneer mentality. My wife & I live in the woods - neighbors aren't visible except slightly in winter. Our "bunker" - hehe, really a fine home & barn - has plenty of security. We have four dogs: Krypto (age 9, Kelpie), Ava (age 13, Rat Terrier), Sky (Kelpie, age 5) and Lucky Star (age 1, kelpie). I don't take crap from anyone anymore, having enough resources & gear stocked up to survive in any circumstance. I have three degrees from Harvard including a Ph. D. in a physical science, and an MS in Management from MIT. I worked as an investment banker for about 25 years, mainly in secured finance, at three major Wall Street firms and for the last 17 years with my partners at our own firm. I'm semi-retired now, managing some private corporations and business interests and doing my own trading & investing. This is not to boast, but to give you an idea I know a little about some subjects from experience. The photo is my 1943 M16 half-track which I am restoring. These armored vehicles were ubiquitous in the US Army in World War II and Korea. It's driveable.
5 comments:
CPI seems to be ok. I think the rate cut talk gonna really heat up.
It seemed "blah" to me. The year over year core CPI was 2.7%. I don't see how the Fed can cut until real economic weakness hits, aka unemployment, etc. beyond the housing sector.
the fed is gonna be hawkish next week
USNA dirt nap np, im out for now
the old FXY was a gud tell that open rally was bs
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