What Did You Buy Today?

[divmenow]

(04-15-2021, 08:28 PM)fenders53 Wrote: Minimum wage in any real form isn't even on the front burner at the moment.  Last I heard they are talking about staggering raises progressively for five years to $15.  AMZN, TGT ,HD , LOW plus more are already on about year four due to market pressure and blowing away profit records.  You can check the tape on the profits. It surprised me.

I think SPY is good for a few hundred more points in 2021 due to liquidity and TINA but we are overdue for some chop.  Probably by summer.  Market didn't care about over valuation 20% ago so I am not going to know when the music stops in advance.  The super specs pulled back and the market barely blinked.

The correction is going to come sooner then you think. I just have that gut in my stomach it’s right around the corner. Just a pull up a chart and most RSI are above 80 and some even higher. When stocks are way higher now then before the pandemic hit we are in danger territory. A lot of Funds are still heavy into cash. In fact most big funds top holdings are cash lol. They will take things down to bring in more money from the sidelines lol. The market will eventually get valuations right. To me things are valued way to high and a recovery is already priced in. I took some money off the table and trimmed lots of holdings before the close. Basically cut holdings in half and will wait to buy those shares back. I just can’t justify these prices at these high valuations. When WBA is about the only buy out there, that signals cation lol. I still have skin in the game but I’m smart and am not going to give back what I worked hard for lol. And if they keep bidding stocks up I’m still in far enough I make money. For me to buy I need a big correction to put new money to work. Those buying now are going to get hurt in the short term.  Buy low and sell high. Not buy now and hope to sell higher lol . And I’m not a bear. Just not a bull at the moment lol