Wednesday, August 26, 2015

My Prediction for Thursday

Early this morning, I predicted that there would be no fireworks to the downside in the last hour of trading. I listed four reasons. Score one for silly predictions! Woohoo!

I'm going double or nothing for Thursday. Here is my prediction.

Expect a wild ride!!

Here is my reasoning.

August 26, 2015
USA Today: Dow roars back, rallies 620 points, in sign of market stabilization

Heading into Wednesday's trading session, David Rosenberg, chief economist and strategist at Gluskin Sheff said in a note, "It is how we close, not open that matters."

If a 620 point roaring move in the Dow is a sign of market stabilization, then I am the frickin' king of all the woodland fairies!! Hahaha! :)

Who is David Rosenberg you might ask? He has been investing for 30 years, yet is not quite sure if he has had more winners than losers. I kid you not.

August 17, 2015
Where David Rosenberg is putting his money

1. I have been investing for about 30 years.
2. I think I’ve had more wins than losses, but there have been both.

If you've been investing since 1985 and don't know with 100% certainty that you've had more wins than losses, then either you have an extremely poor memory or you spent way too much time being on the wrong side of the rising stock market tide lifts all boats trade. Either way, why should I listen to you?

This is not investment advice. Once again, I am not a trader. I have no money backing this "wild ride" prediction. I'm simply offering it for kicks-and-giggles.

May we live in interesting times!


Mr Slippery said...

Good call on the market today! I was watching with interest I even considered investing 1/2 of 1% of my nest egg in stocks today, but decided not to because the bounce was too strong.

Let's see what tomorrow brings :)

Stagflationary Mark said...

I slept through the last hour of trading. I stayed up too late.

And get this. I did not sleep like a baby, if you know what I mean. Not even close! ;)

(Inside joke.)