Wednesday, August 17, 2011

No Cure for the Summertime Blues?

My Star Wars desk calendar character today was Jar Jar Binks. I skipped to the next day, insulting to any real Star Wars fan.

No Cure for the Summertime Blues?
Another messy day for the markets. A day like today you cannot win unless you are moving in and out daily. Plenty of chop.

I have been pounding the table about how mutual fund redemptions are going to skyrocket after the drop of the last few weeks. Sure enough (via the iBankCoin news feed):
Mutual Fund Outflows Surge After Downgrade

It is almost too many contradictions running headfirst into each other. Consider:
-Ultra low rates make saving via cash a waste
-Everyday people that are investors are doing less with the stock market because they don't want to chase

Where is this money going? Probably US bonds. Who needs QE3 right?

I will admit I am getting bored right now. I would love to open up some positions, but this is not my kind of market to trade.

Value investors get paid over time. Swing traders get paid during a trend. Day traders get paid by the hour.

My general type is more a longer term value (as I see it) type and I trade a bit in a pure swing style. I can't do much in this market, I cannot watch the tape all day long.

ChessNwine had a great thought today that I am partial to going forward:
"..one scenario that I am seriously considering is that we actually start to roll over for a few days and see shorts scramble into those bear flags proving true. At that point, we make a higher low on the S&P and then stabilize and turn higher. Since the market will usually do that which frustrates the majority, I think this scenario will frustrate those who have committed substantial capital looking for a market bottom as well as those bears looking for confirmation of bear flags in order to short. Here is what it would look like"
Click the link for a chart of the idea. Would make sense!

Have a good night.

8 comments:

The Sovereign Bohemian said...

Somehow picturing you and Jar Jar Binks having a stare down comes to mind!

And then you flip the page on him.

getyourselfconnected said...

I burned that thing, ugh.

GawainsGhost said...

I only get paid after closing and funding. Before that I have to do a lot of research, find the house, perform a market analysis, recommend a price opinion, advertise the listing, show it, attract a buyer, negotiate a deal. Then it could be six weeks, it could be six months, hell it could be a year or more, before I get paid.

And what am I supposed to live on in the meantime? Well, my only option is to do the same thing all over again with another house.

You think trading stocks is hard? Try selling real estate in this market, in this economy. There is a reason why 80% of realtors quit within two years of getting their license. Fees, dues, gas, money, it all adds up real quick. And you don't get paid until you make a sale, after closing and funding.

Budd said...

I have that same calendar. While I left him up for the day, I did sigh when I saw who it was. I don't like the font, it makes some of the names hard to read.

Jennifer Hillier said...

Am I only the one who kinda liked Jar Jar Binks?

*ducks as GYSC throws rotten fruit at her head and then escorts her off the premises*

getyourselfconnected said...

Budd, yes I think it's a cheap form of Galactic basic, hard to read. Today is TC-14, better.

JH, if I had a tomato....

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