I refuse to use a “Market Is Crashing” click bait headline. Too much. These stroke inducing headlines have people sipping jello through a crazy straw this weekend. Hilarious. I’m not downplaying the fact that the market does look like its crashing, but enough already.
CNBC lives for two things. Fed day and big selloffs. Its all they have. Its where traders go to die.
Sites like MarketWatch have been calling a crash since S&P 900.
Let’s step into the simplicity machine. Markets get overbought and markets get oversold. I like to buy oversold and sell overbought. Buy red and sell green. This secular bull market has made that fairly easy.
The other thing is time frame. This is probably not the time to recklessly be of the buy and hold mentality. That was 1000 S&P points ago. Be smart, if you’re a swing trader, then WTF do you give a rip what Buffett does? Will kill you every time. When was the last time Leon Cooperman really made you money? Be honest. The market could drop 5000, you’ll be wrecked, they will still be long and have the money to average down.
It is what it is. Now we have to wait for Communist China, who does capitalism badly, determine our fate on Monday morning. What will they do? I have heard they are setting up Pai Gow and Sic Bo tables on their exchanges over the weekend. This hasn’t been confirmed.
Best bet, turn off the pundits and have a beer this weekend. Or dozens. This weekend you should become consumed with Tyga and Kylie, or what star showed side boob. Obsess over Miley Cyrus’s new tattoo. You know, stuff the entire country does everyday. Or get fringe crazy and read a book?
We’re doomed anyway.
Be a Premium Member at 50% off here.