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No man's land

avatar of @jondoe
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@jondoe
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Stocks are currently in no man's land

I bought SPY a while back, all in in fact, on that dip down to 320 on SPY.

I didn't get the lows, but I got close.

My cost average was somewhere around 324ish.

When things turned back up I sold half of my position around 341 I believe (I don't remember the exact price, just remember it was near the upper bollinger bands on the daily chart).

Anyways, ever since that sell I have been looking to get back in since I think we are eventually going to get stimulus that pushes the market to new all time highs.

But currently we aren't at a great spot yet:

(Source: https://stockcharts.com/h-sc/ui)

From an investing standpoint we are in no man's land.

The risk/reward is pretty much equal at this point and the price could go either way.

Not a great investing setup.

Yes we had the price pullback slightly over the last couple weeks, which means we are probably near a good buying spot, but personally I'd like to see it retest those lower bollinger bands again before I get too interested.

I have a tendency of being early with my investments, but I guess with stimulus likely coming regardless, perhaps the best move is to just close your eyes and buy.

Then check it again a few months from now.

What do you think, are you trading the S&P right now?

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