Bought SPY today @ $324
I think it's time to buy stonks
We are seeing a bit of a freak out again, similar to what we saw back in March of this year.
However, now we have the playbook, so I don't think it's going to get much worse.
We will get massive stimulus again if the markets freak out too much.
Plus we know the virus isn't as deadly as we initially thought.
Things will be bad for a while but the stock market won't outright tank unless no new money comes, which is basically impossible.
Just need congress to get their heads out of their arses and the money will flow.
Bought SPY today at $324:
(Source: https://stockcharts.com/h-sc/ui)
I think we see new highs in the coming months.
What say you?
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I agree with that! I'm hoping the SPX gets a little closer to its monthly 12 MA and then going long stocks...as that band from the 70's said, "we won't get fooled again," right?
I like that bounce into the close. See if that was the reversal.
I think you are correct...the SPX left quite a hammer candlestick on the daily today. You don't think they'll keep jerking price around until the election, mid - term in time?
They may. That is what scares me a little. But scared money don't make money! I will just hold as long as it takes probably anyways. With all the money being handed out I think stocks will be higher than those recent highs at some point in the coming months, regardless who wins the election.