For many reasons, I believe we are getting ready for a multi-week bounce. I subscribe to Sentimentrader.com. They have a smart money verse dumb money indicator that is flashing a somewhat strong buy signal. The indicator is not easy to pick the absolute bottom but it does very well in picking major swing points. Also I have read in multiple places that if November sucks, most of the time December does not.
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These facts and others over the last week of so, I have gone from a 20% cash position in my 401k to 5%. I also will be looking to move my money in my IRAs into the market, I am guessing, this week.
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Too many of my friends are just beginning to but short positions on when I believe the majority of that game is done for now. Who knows in a couple of months or even weeks from now?
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I am hoping for a multi-day sell off to use that weakness to get long.
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