Sorry to hear this mate, not a financial advise but still you can look for an entry at next pull back...CXO is bullish at the moment.
What I have learnt over the years is to always look opposite to general market consensus. Even If you trade blindly, you will be successful 7 times out of 10 lolzzz.....
If you look at my last few posts, I had mentioned that I am looking for a reversal ref. S&P 500. Most critics were bearish with extreme fear that It can fell below 3000 etc, I was in a view that this will may ended up not only with an uptrend but potentially will break above bear markets trend line resistance. So far it is heading that way. Well, anything can happen in the market but my focus was on simple fact.
a. Its a FEDs induced bear market, unlikely the previous bear markets...it is unique in a sense.
b. Inflation fell down from a peak of 9.1%yoy to 7.1%. this is still a significant fall IMO.
c. China reopening (anytime now) would spur demand massively.
d. Higher employment data would eventually cool down, and with falling inflation, FED would slow down its rate increase for a soft landing, so either no recession or If it is the case then it would be mild recession.
e. With falling inflation, why the market should crash? So the fair value of the indices should be around where it is now i.e. around 3800 range.
f. Economy is still running hot, positive GDP growth, means, the corporate profits would not get hit IMO unlike in typical bear markets. We are due on corporate earning this month in S&P.
g. Evidence: Non farm payroll data today fell down from 263000 to 223000. Markets souring so far.
AND FOR THESE SO CALLED MARKET EXPERTS, I WOULD ONLY LIKE YOU TO CHECK THIS SCREENSHOT.
All these pointed arrows were crash of the century lol.
