Quote:
Originally Posted by F1Venom
Yeah, and it was kind of a huge leader the past two years which leads me to believe the bull market is coming to a close. So you think we're in for more selling this week? I've got 1760 as a bottom if 1800 doesn't hold, but I'm still thinking we rally November-January. Maybe even reach and make ATHs.
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So one thing that makes me chuckle is you use ATH. Please stop using it. Nobody in the business uses it.
The past few weeks have been great. A lot of de-risking and sector rotation. Huge buying opportunities. Nobody who does this for a living is trying to a call a top or a bottom. Get in while it is cheap, maybe lose a little in the beginning, but make it big on the upside. This morning we saw a lot of heavy selling, then it completely switched around 1-1:30PM to opportunistic buying in certain sectors. Nobody is afraid except for risk management and compliance people. When your risk guy taps you on your shoulder and says it is time to shake a few positions off you do so to get him off your back. Its the best time to hunt for deals.