Friday, March 13, 2015
Stocks and flows from the standpoint of SPY
Dammit, I bought back some SPY yesterday (HSU.to actually) thinking the bottom was in, then I started cursing myself for getting in before the all-important Fed meeting next week even though I know they're not raising rates in June.
I.e., I deviated from what I felt was the proper script for the market.
But the problem is:
Maybe the past week's selling was just the last gasp? There was a lot more selling in Jan and Feb in preparation for the not-coming rate rise, so how many weak hands are left in the market today?
It might take another Ebola to get a 5% correction in the S&P this month.
As for USD, I really thought that recent move this past 2 weeks was fucking insane. Currencies aren't supposed to move that fast.So maybe at the very least we get another few weeks of plateauing.
at 6:50 AM