Wednesday, September 28, 2022

Looks Like a Bounce

 
“Europe was investigating on Tuesday what Germany, Denmark and Sweden said were attacks which had caused major leaks into the Baltic Sea from two Russian gas pipelines at the centre of an energy standoff.”
https://www.reuters.com/business/energy/mystery-gas-leaks-hit-major-russian-undersea-gas-pipelines-europe-2022-09-27/
 
Asian markets were down big last night; the Chinese Yuan is collapsing; someone blew-up 3 Nord Stream gas lines; UK currency may cause a global crisis...and the markets are up?  That’s a good sign.
 
Still, my guess is that we’re seeing a bounce.  To get a bottom I think we’ll need to see a big flush out, down-day and that hasn’t yet occurred in this correction. I’m adding some stock positions SPY (S&P 500) and I may add SSO (2xS&P 500) at 1230 or so. It’s often good to buy during Wall Street lunch hour since markets often dip then.
 
I’ll probably be around 35-40% invested in stocks today.