Quick Market Thoughts
Market tumbled today and things looked pretty bad. Just have some quick thoughts on this one. I’m looking pretty smart the last few days.
- Given the market volatility, market will be up in the next few sessions
- Medium term, we are nowhere near the bottom. Down another 10% or 20% is easy to see
- Still like the dollar going up. Buy UUP
- Tech is going to go down even more. QID is going to be a buy
- I don’t know what to do about Financials. They are beaten down, but it looks like there is more to go. If you don’t mind it going down another 10%, these are starting to be good long term buys.
written by terrence
No surprise that retail (like Abercrombie and Macy’s) are slowing. If you want to buy retail stocks, I predict the beginning of next year will be a good time.