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started composing thoughts to this end last night and hilariously, burry kinda summed up some lingering concerns on twitter today....
basically:
* yeah theres more downside coming
* we are comfortably in a value range where longing here pays out handsomely on the other side of the crash
* the people who get richest off this are the ones who take positions on stocks that arent still bloated with pre-crash free money. so maybe fundamentals suddenly matter? its been a while but...
i do think we are due for a bounce in early october, possibly starting tomorrow if the emergency fed meeting at 8:30am yields any notable fruit. but SPX 3600 is probably a great place to start building out longs because every single fintwit influencer account is shilling SPX 3550 as a pivot, meaning the play is to beat them to the punch in case institutional money decides to fuck them all to shreds, but perhaps avoid options etc so you can weather the storm if support doesnt show up. just leave some powder dry to buy at 3400 and 3200.
basically:
* yeah theres more downside coming
* we are comfortably in a value range where longing here pays out handsomely on the other side of the crash
* the people who get richest off this are the ones who take positions on stocks that arent still bloated with pre-crash free money. so maybe fundamentals suddenly matter? its been a while but...
i do think we are due for a bounce in early october, possibly starting tomorrow if the emergency fed meeting at 8:30am yields any notable fruit. but SPX 3600 is probably a great place to start building out longs because every single fintwit influencer account is shilling SPX 3550 as a pivot, meaning the play is to beat them to the punch in case institutional money decides to fuck them all to shreds, but perhaps avoid options etc so you can weather the storm if support doesnt show up. just leave some powder dry to buy at 3400 and 3200.