No man's land
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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