Thursday morning, July 28 at 1 AM News. SINGAPORE (Reuters) - Asian stocks slid more than 1
percent in thin volume on Thursday as investors trimmed positions with just
three trading days to go before a deadline to lift the U.S. debt ceiling, while
the Australian dollar showed resilience in the face of global sovereign risks.
European stock futures fell 1 percent in early trade, echoing losses in Asia and
on Wall Street overnight. The increasing possibility of a U.S. credit rating
downgrade -- with Washington still in a stalemate over government spending --
is weighing on equity markets globally, though there have been no signs of
panic selling.
Comment: It’s a sure thing U.S. stocks will be down, unless,
of course, there is significant breaking news. I will bet on the down, and
start buying back in. As I indicated, I sold off $15,500, which is available. I
will start doubling down. I will buy $1000 FAGIX now, because of a situation I
have with Fidelity, where I need to make sure I have an account set up. I am
trading within in IRA. Then I will check the market again throughout the
morning, If it is down significantly (I am guessing down 150 points on the
day.) I will sell $2000 more. I am thinking it still has room on the downside.
So I want to be prepared to buy big tomorrow, Friday, July 29. That is my plan.
If the Dow drops 150 more from Wednesday’s close, that will leave it sitting at
12,152 for Friday morning’s opening. My original; plan was to buy in the
12,600-12,700 range and buy back in the 11,900-12,100 range, to realize a 5%
differential.
No comments:
Post a Comment