I Used To Roll the Dice

I used to roll the dice
Feel the fear in my enemy's eyes
Listen as the crowd would sing:
"Now the old king is dead! Long live the king!"

One minute I held the key

Next the walls were closed on me
And I discovered that my castles stand
Upon pillars of salt and pillars of sand

-Coldplay
Thus far it has paid to remain conservative and I believe that will remain the case. Better to wait for the market to become oversold before making a stand on the long side. However, with the S&P 500 now down a quick 55 points from the highs a few days ago it would not be surprising to see some sort of bounce. I am likely to just remain on the sidelines but will consider a very small purchase. I believe a buy here will prove profitable when a bounce does arrive.

3 comments:

Anonymous said...

Dips of this size usually last a few more calender days. I would start buying a dip on Friday. Possibility of a reversal to the upside , that day or Monday. imo

Tsachy Mishal said...

I was referring to an extremely short term flip.

Anonymous said...

Deutsche Bank has revised its second-quarter GDP growth projections to +1.1%.