S&P500’s Trick Or Treat?

S&P futures are getting schmoked at 11:38 pm PT, down almost 70 points, and approaching the 3200 critical support level.   The futures could bounce there, or before there, but we seriously doubt it holds.  The S&P will move into correction mode – down 10 percent – from its ATH at 3226.

The market is playing out just as Carol K. expected in her post a few weeks ago.

…we at GMM believe the U.S. stock market is extraordinarily overvalued. Coupled with the political event risk, we expect a sharp correction, similar to last March and the 2018 “nightmare before Christmas” downturn, which will allow me to get back into these positions much cheaper.  I am also putting a shopping list together.  – Carol K., October 15th

To paraphrase King Solomon, who wrote almost 3,000 years ago,

There is a time for everything,
    and a season for every activity under the heavens:

a time to buy and a time to sell

I don’t think you need an Apple watch to know what time it is.

And remember, there’s always an Idjit somewhere.

This entry was posted in Coach C, Equities and tagged . Bookmark the permalink.

1 Response to S&P500’s Trick Or Treat?

  1. Pingback: This Week’s Best Investing Articles, Research, Podcasts 11/6/2020 - Stock Screener - The Acquirer's Multiple®

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