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Whether you have an investment or a trade does not depend upon whether you are making or losing money on the trade. It depends on your outlook. If you are under 40 this break in the market is God sent. It happens about every seven to 10 years just so the young can invest in the markets and it proves to the greedy that trees don't climb to the sky
and that they shouldn't worry about taxes, but take profits when they have them, and worry about the taxes afterwards. I personally know 2 individuals, each out about a million dollars. One because he didn't want to pay income tax on his profits and the other because he believed that his $10 stock was going to go to $100 but it is now trading at 44
cents. If you have cash, now is the time to select some stocks that have solid balance sheets and growth potential and start to accumulate them. Not looking to trade them for a living, but to use a longer term time frame for wealth accumulation. You can track the sector indexes and as they give buy signals go to the best in that sector and
accumulate. As rotation takes place, you rotate also. You can create your own mutual fund using the QQQ, DIA, SPY and a myriad of other stock indexes currently on the market. There is money to be made in an up market as well as in a down market. The key is to always look in both directions and to be able to adjust your time frame to coincide with
your goals.
Steve Walker wrote:
> FWIW:
>
> I have some long side "trades" that unfortunately have become "investments". Hopefully, I am a group of one in this regard! My short term chart below indicates the SPX is over extended and suseptible to a pullback. However, the longer term chart shows where the likely upside b wave retracement levels are assuming that the P5 turn has been made.
>
> Steve
>
> -
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