This piece of data from Ryan Detrick caught my eye as it relates to how the markets may trade this week:
Since 1950, the S&P 500 has been down 2% or more on a Thursday and Friday only 6 times … today was number 7.
One of those times was the ’87 crash, but the other 5 times saw the S&P 500 closed higher the next week.
This week will be interesting .
Yesterday I shared a graphic that shows how price drives sentiment. Here is part 2 which I would title…’how easily price and sentiment turn‘:
I get caught looking silly all the time investing in momentum growth stocks.
Just three weeks ago I wrote ‘Tech Tech Tech Tech‘ as a blog headline and today with The Nasdaq reeling that title is just a wee bit off.
Price drives my strategy for the most part so as good as my stocks looked just three weeks ago, this weekend I am back on defense.
Technically, JC has my favorite post of the weekend and I agree with him.
Selling on the way up is something I have done for years and I always hear the boobirds when I share my sells in an upward trending stock or market.
I don’t invest and and journal for applause…though LOL’s are fine.