Thursday, October 06, 2005

What To Do?

So what have I been doing in the face of the market correction? Nothing, I'm just letting the stocks come to me before I start buying. A lot of stocks sliced right through their 50 day moving averages, which is usually a good short term support. What I would like to see is a climatic sell off. The market gaps down big on high volume at the open, but starts to rally towards the close. That would be the all clear signal to jump back into the market. Fear has been building, but we're not there yet. It may be ok to just nibble at stocks, but that's about it. Remember the old sayings: "Never fight the Fed" and "Don't try to catch a falling knife." Things to consider...


At October 10, 2005, Blogger Money Turtle said...

That's no fun... :)


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