Joined: Jul 24, 2019 Posts: 177 Location: Atlanta, GA Flag:
Reputation point: 50
What happens when crazy momentum dies? The reality of valuation takes over and boy were we overvalued. Some way more than others, Tesla would be the extreme. Side note, I decided to follow 101282 for September forward in my fantasy account, it was in the S fund until 9/16, not liking that move so far. So what should we do now if you're in the S or C? Well support levels were tested for the Dow at 27,500 and held, so far bouncing today. The NASDAQ tested the 50 day moving average and bouncing. Same with S&P, support around 3,335 and bouncing. Small Cap index is at risk of breaking it's support, however. I think this was a correction in a continued bull market. But we'll see a lot of volatility. Microsoft looks like a deal right now to me. Also tracking NKLA who joined up with GM. Check out Snowflake too, could be a big winner when it rolls out. We are in waters that's not recommended for those prone to sea sickness. But the future is really bright in my view. Stay motivated and have fun out there. Ride that Bull!
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