Steady betty market…
Back about five years ago, one of my mentors noticed that the S&P 500 hadn’t had a 1% up or down day in months…I’ll pull up the actual stats for you guys later, but the point being that are times in the markets that are incredibly steady.
And today, we’ve got a flattish market. And I can’t hardly remember the last time we had a market that wasn’t up at least 1% in one direction or the other. Heck, I was considering yesterday’s 1% plus move higher to be “steady”.
With that kind of recent volatility, people/traders/investors are still spooked. And spooked people/traders/investors can panic themselves into buying sprees or selling fits — en masse. And that’s why I’m still keeping some cash (including the new money I sent in last week). And as I’ve pointed out, I’m likely to look to add some more to our short positions on strength. And that strategy is partly because if we get another whoosh down I’d like to have some more put exposure.
Steady betty market for now. I’m not making any moves yet today and will of course let you know if that changes. Back in a bit.