Not Over Yet

by JDH on October 20, 2018

So, the “big crash” happened last week, and the world didn’t end.  Ho hum.

I’ll keep this brief: the bull market is not over yet.  We just observed a nice correction, to allow the Big Boys to load up on more “bargains”, so they can do it all again.  Lather, rinse, repeat.

Tesla closed at $260.  I assume they will announce decent earnings (which isn’t difficult if you cook the books) which will give the stock one final bounce, and then it’s over.  The bankruptcy filing will happen in 2018, and Elon can blame the SEC, or short sellers, or whomever.  I have no position at the moment.

Gold has shown strength, but we are not at the “back up the truck” point yet.

The pot stocks lost ground this week.  Wednesday was pot legalization day in Canada, so it was time to “sell on news”.  That’s fine, a new crop of investors can now jump on the bandwagon now that it’s legal, so after a consolidation period over the next few weeks and months, I assume 2019 will look good.  I was filled on some of my below market bids this week.

Otherwise I have cash, and I sleep fine at night.

Thanks for stopping by; more next week.