Wretched Market Action
Horrible action in stocks today, 8-25-15. Attempted rally failed, and we closed at the lows on big volume. The selling isn't over just yet.
But, over the next several days, look for a bullish reversal, a good time to buy for long-term holders. A rally will ensue and when it weakens look to selectively short or raise cash (if that's what you want to do). ... Keep in mind, we are in the weak late summer phase of the Sell in May and Go Away cycle. If we continue lower, the selling may end in September and you will want to be long.
But, over the next several days, look for a bullish reversal, a good time to buy for long-term holders. A rally will ensue and when it weakens look to selectively short or raise cash (if that's what you want to do). ... Keep in mind, we are in the weak late summer phase of the Sell in May and Go Away cycle. If we continue lower, the selling may end in September and you will want to be long.
posted by Dan Jamieson at
5:53 PM
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