Stocks Analysis by Jani Ziedins covering: S&P 500. Read Jani Ziedins's latest article on Investing.com
as it held the vast majority of Friday’s rebound, and last Thursday’s fearful selling quickly faded from memory.
Without a doubt, this market is not in a hurry to go anywhere, but anyone betting on a collapse is going to be disappointed. There have been countless excuses and opportunities for stocks to tumble, yet every time, stock owners shrug and keep holding. This situation can’t last forever, but it will take something new and unexpected to convince these confident owners to sell. As we’ve seen over the last couple of sessions, undercutting 5,200 isn’t going to do it.
If I had a crystal ball, I could have squeezed some nice profits out of these recent swings by timing my purchases and sales at the precise tops and bottoms, but no one can predict the market’s exact movements, and only fools try. But just because we can’t see the future doesn’t mean we can’t make savvy trades when these opportunities present themselves,We can already lift our stops to our entry points, turning this into another low-risk, high-reward trade.
Something is going to change at some point, but last week was not it. I still have the positions I bought Friday with stops near my entry points. While there are no risk-free trades in the market, this is about as low as it gets.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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