Welcome new reader!

Financial news I consider important, with my opinion, which is worth as much as you paid for it.
Please click HERE to read a synopsis of my view of the financial situation.

Thursday, June 9, 2011

Market Commentary and blog template update

The market has fallen about 6.5% since May 2nd, when the market hit the top of S & P 500 at 1370, now at 1280.

I went back and looked on the blog my thoughts that day. One of the great aspects of a blog, its a journal to see how you react as events unfold.

On that day, it was the day I panicked and hit out of all silver miners, most gold miners (non-core) and in general the market. I do remember how I hit the bids on the market open, only to be a little pissed the market did bounce during the day.

Looking back, being off by "hours" from the high of the day was meaningless as compared to the market trend in the weeks to come.

So for readers that followed me, it was a good decision, that granted, I did out of shock and awe of the silver collapse. But that collapse seems to have been the catalyst for an overall market trend change. They key item to look for a new "lower low", meaning the market trend breaks the last meaningful low at SPX 1250. Once that level is convincingly broken, it will show market chart watchers the market has changed in direction.

The blog has been updated to have "prettier" view for phone. Blogger updated the site to detect phones and make the formats easier on the eyes.

Good luck, and its cash cash cash, or for those more daring, shorts!

No comments:

Post a Comment