Online Stock Trading | Market sells off again, cash is king.

Market sells off again, cash is king.


Filed Under Market Commentary |

The Dow Jones Industrial average took its prior low striking down this attempted rally. With weak leadership and low volume rallies this attempt was weak at best. Dow finished down .42%, Nasdaq down .32, S&P500 down .11%, Russell 2k down .41%, S&P400 down .56%, S&P600 down .67. As you can see the Dow did close above a “psychological” level of 11,002.14.
The next few days and weeks I am going to sound like a broken record. Stay in cash, stay in cash, stay in cash…boring, yes, but it’ll preserve your hard earned capital. I don’t see any bright lights at the end of the tunnel. FED continues to weigh on investors minds and with mid-term elections coming up there is a strong headwind for stocks. Negativity will consume investors and keep the scared on the sidelines. Again, during this time there will be new market leaders setting up sound chart patterns. I will be looking out for these stocks and will update this blog with these stocks…they’ll emerge from my watch list.
Sit tight and stay patient.
MktSpec

Last 5 posts in Market Commentary

Share and Enjoy: These icons link to social bookmarking sites where readers can share and discover new web pages.

Comments

Leave a Reply