Another down day, S&P down 14.41 points. I still didn't see any extreme fear in this sell off. I know I am a picky guy, I told you I hate losing money. I am waiting for another big sell off day, better be 2 days in a row with high VIX reading. To make this scene look even better? In one day big drop down through 80 weeks moving average which is around 990-1000, then rebound to the high of the day, shows a long tail 'hammer' or 'hanging man' candlestick signal.
I am a idealist and perfectionist. It' very risky and costly for a person like me to involve in stock market because the market doesn't care what you think. It just acts whatever it want. However, one element can conquer it. 'Patient' is the most essential element. I will wait until the market come to me instead of chasing after it.
There is a dilemma to long or short the market at this point. It is oversold, but not to the point I want to buy. Since the RSI and stochastic are not at the ultimate oversold level, I will wait for more sell off and want to see the criterion I mention above before to push a buy button.
If the market regain momentum, remember these stocks, they may run faster than you expect.
HAUP, MBI, NBS, VRS, MAPP and everybody's sugar daddy AAPL
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