Crude Misery

The weekly Market Update is posted and includes the following;

Working against markets these days is the inability to make new highs and the decreasing number of S&P components trending higher and on the plus side, although the S&P 500 has been flirting with its 200 day moving average for the last few weeks that trend line has held thus far and it is still positively sloped.

Please click through to read the entire update.

The Reynolds Creek Fire in Glacier National Park.

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2 Comments

  1. Roger, this week was horrible for crude and the general market, with crude, the S&P 500, and 10-Year Treaury rates all being down about the same percentage. I believe SPY is now below its 200 day M-A. Is it time for defensive action? Thanks.

    Reply
    • The SPX fell pretty sharply through its 200 DMA on Thursday and obviously followed through much lower on Friday and is about 110 SPX points below the 200 DMA.

      Now is the time, as is always the case, to stick to whatever strategy you laid out for yourself at a time when the market was not….gyrating?

      My strategy has been to heed the 200 DMA, we actually sold just a little bit on Wednesday (lucky) but of course if it goes lower we will wish we sold more and if it goes higher we will wish we hadn’t sold at anything.

      Without knowing you or your strategy you should stick to whatever you laid out for yourself (repeated for emphasis). The time to re-evaluate the efficacy of your strategy is not now while things might be hitting the fan, the thing to do now is simply be disciplined.

      Reply

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