The pre-openers, US Market Index Futures trading overseas, are off between 1/2 and 2/3rds of 1% as of about 6:15 a.m. EST.
It’s risen plenty all October, and due for a spell of relief. This may be the start of something like that. There’s certainly plenty of shares acquired at higher prices since mid-October of last year that many would like to get out of at something akin to near-even prices, and those are going to get flushed out before too terribly long.
Cash is building, there’s a necessary decline to take place yet, I believe; and we hope to follow that, catch it near its lows, and put more cash to work at that time. Give it all the time it needs. It’s going to be awhile yet.
If it actually sets up just like that… we may well see another one of those lovely year-end rallies, or a great kick-off for the upcoming new year. You can shake your ‘8 Ball,’ but the message will keep coming up, ‘Outlook Cloudy’.
9:15 a.m. EST. Pre-openers are the same. Nothing’s changed. Perhaps the next slide might start today….
Here’s to your successful investing!
Harold F Crowell