It’s okay if you’re still feeling whipsawed from the last couple weeks…

Well, that wasn’t quite the steady hold of 2-3% broader market gains that the bulls should be have been looking for.  Yes, counterintuitively, I would consider that extra 2-3% intraday push higher (and subsequent 1% fade in the last ten minutes of the day) to be more indicative of likely near-term weakness, rather than the steady bottom-building I would have preferred.

Maybe we put in a bottom and are going to return to what seemed like “normal” levels to most investors just a couple weeks ago.  But maybe not.  I’ve bought some good calls that are now nicely profitable after today’s pops, but I’ve also moved some more cash into the account in case there’s another crash.  And, again, looking objectively at today’s action on top of the last week’s wild volatility and crashing, I expect there might be one or two more big down days ahead.

I’m ready and positioned for either more weakness, more strength or steady action.  That positioning for whatever pitches the market might throw at us next is a large part what the whole point of this business is.

And one other point — it’s okay if you’re still feeling whipsawed from the last couple weeks.  That’s part of why today’s big rally isn’t necessarily bullish—investors could use a little calm and breath-catching.

Thanks for reading and I’ll see you tomorrow.