Second guessing--Another best day ever
Today I scored my best day ever dollar-wise--I made nearly 5%. The last time that happened was November 6th. November 7th was my worst day ever. My plan today was to sell into strength since this is something I've never done and I've always regretted not doing so as I watched my gains slip away.
But as I look over things tonight I wonder if I made the right decision. I was expecting the Fed's decision to be more of a let down, but folks are starting to talk about a 50 basis point cut or more. My indicators are telling me that we're headed out of a bottom. Stockbee's Market Monitor is in rally mode. Phil Grande is saying "go to cash, now". Kirk went to cash today too. Cramer says expect a 1,000 point rally by Christmas for the DOW. I'm so confused.
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