stelakis
Long

Volatile seller exhaustion

SP:SPX   S&P 500 Index
105 0 3
Oh the SP             500 what can I say... moving to the winds of news like a candle in the air... BUT... this is where we are: at the level of Nov 2017... by Nov 2017 things were calm and advancing gently and steady... these group of investor did not jump in to make a quick buck...After Nov 2017 the get rich quick crowd joined and things started getting .... rich... :) :) but when the game of the get-rich-quick crowd wasn't working anymore they fled with a bang and burned some of us with them....:) :)

So who is in the market now? The old quiet crowd, the ones that are willing to hold on for a long time.... the one with a big paper loss perhaps that will not sell so the paper loss does not get money loss.... Yes we are going up and down like a yo-yo but thats Goldman Sacks and Bank of America and Citibank proprieteray trading gallore... not you and me.... (we simply don't have that volume- we individual investors).

So my take is as long the red line holds (it will, because there is no one else left to sell -with brains that is) and we will advance to 3200 by years end. Unfortunately the sell in May and go away time comes nearer and we will move sideways. So I would expect more or less the same until September and then we will march higher with more resolve and decisiveness.

I need to mention one more thing. If you have ever read a mutual fund brochure, the managers are REQUIRED to be in stocks , not in cash. That's why they get paid!! So sooner or later the big boys will have to get in the game -they can sit in the sidelines only for so long (unlike you and me that is :) ).

Enjoy your summer people, don't sweat it and happy trades.

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