The majority of hedge funds had 70% of their non-realized profit in their top 3-4 holdings before the election. What I thought could happen is that they would take profit causing a dip in the S&P as a whole, but with a republican government fostering growth in the repressed industrial sectors like shale and manufacturing I think we will just see a shift from the money makers of the past eight years like AMZN GOOG FB etc until the prices are more reasonable.
The last move was 400$ from 470-850. A 50% retrace is around 650 and that's just above price it was trading at during the beginning of the summer when the market was trading at a yearly 0% gain (600). It would make sense to see people buying again a bit higher than that, as we should see in any bull trend. My final target is an arbitrary 1000$ sometime at the end of this year. So the stop is 550.
Trading stocks is so long term that it's boring, but I need to practice it.
The last move was 400$ from 470-850. A 50% retrace is around 650 and that's just above price it was trading at during the beginning of the summer when the market was trading at a yearly 0% gain (600). It would make sense to see people buying again a bit higher than that, as we should see in any bull trend. My final target is an arbitrary 1000$ sometime at the end of this year. So the stop is 550.
Trading stocks is so long term that it's boring, but I need to practice it.