For someone who has lived through the internet bubble and crash of 2000-2002 and the great financial crisis of 2007-2009, this is the 3rd greatest opportunity of my lifetime. It's coming. Wait on it.
Roy Mattox
4,180 posts
Roy Mattox
@RoyLMattox
Stock Market Aficionado & O'Neil CANSLIM Disciple since 1988. Swing trader and trend follower. youtube.com/results?search…
- Congrats if you are not down 20-35% this year. I have been doing this for 3.5 decades. This has been the most difficult market in 15 years. This is setting the stage for the next great bull market when the low is in. Down 10-15% is a win long term. 95% in Tbills.
- When I am asked who has been the biggest influence on me trading the market it has to be William O'Neil, David Ryan, Mark Minervini, Jesse Livermore, Nicholas Darvas, Stan Weinstein, Gerald Loeb, and Richard Wyckoff all Masters of the Universe and proven World Class Traders.
- The most profitable screen I have run over the last 34 years are stocks that are up over 10% in price and volume is over 300%. When that happens during an earnings call and at a new high, it is compelling. I run this everyday. Follow the institutional money. Leaders Lead.
- We remain 100% In cash. Patience more than profit prevails!
- We are 100% in cash and there is a strong possibility we short a bounce next week in the Nasdaq. If we do, it will be by purchasing the $Sqqq. The S&P 500 is still in an uptrend and has not triggered a sell signal yet.
- Initiating a position in $Open Opendoor Technologies. We are fans of the new Ceo Kaz Nejatian who had extensive experience in scaling products and offerings as the prior COO of Shopify.
- Our view is that the market has not seen the ultimate low yet. We think the S&P bottoms at 3000ish area in the next 3-4 months plus or minus 10%. We may rally short term but you short the rally. Investors should sit this out; this is for traders only. We are protecting capital.
- There is a misconception that you need to always stay invested in the market because if you miss the best days, your performance will suffer. Consider the instances when you are in a downtrend, if you are out in bear markets, your performance soars. It is timing the markets that
- Do NOT be a bull or a bear. Try and get the trend right.We are in a short term uptrend running into resistance and a declining 200dma. When we close above the 30 week ma for 2 weeks and the 30 week is greater than the 40 week ma, the narrative changes. I am a seller here.
- Tactics: You should have a list of 5-10 names that you buy in case the market crashes in times like this. You could use the indexes to do that and then wait for the leadership to emerge. Do your weekend study and always be prepared to allocate capital in a crash. I am.
- Why Market Timing and Side-Stepping Bear Markets Matter! Most great traders and investors do not ride it out in Bear Markets. They raise cash and avoid "most" of the deluge and fight to live another day. Don't listen to the traditional, Ole Wall language of "It will come back".
- It is absurd to think you can change your financial life in a year but it is quite possible you can in 5 years in the stock market. Keep it in perspective. It is possible to take $10k to a Million in 5 years from a bear market low on margin with a few of True Market Leaders.
- Patience here prevails. Getting close. Need to have the capitulation, panic, anger, regret. Should happen in July-Oct. Get this right and you go from coach to first class. Don't take a single day off here. Be aware. The next 90 days can make your next 5 years. I am all over it.
