re: I got out of equities on Thursday because of advice from someone I respect

Still too high brah

I'm gonna by one for 30 cents on the dollar like JT. Straight cash transaction of course

if everything plays out like it could, you will still pay too much and cash is the only way you would be able to buy a house.

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Well it looks like my buddy hit the nail on the head again to the exact day calling the top.

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I think your buddy is delusional if you or he thinks he can call market tops and bottoms in a market driven by speculation and emotion.

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I will let you guys and gals know when he calls bottom again.

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Please do. Thanks. (I assume he will tell you when it's the bottom on the day it happens and not afterwards, right?)

JMO, but I think this is playing out very similar to 2008. I remember a certain ADP jobs report that was very disappointing and the market sold off. By the time the BLS came out, it posted a contradictory result and the shorts were burned. We'll see tomorrow.

Your friend is right about the distribution that has been taking place but I think the summer is going to be rather choppy. The big boyz go to the Hamptons or the south of France for the summer and barring some geopolitical event, there won't be much happening until the Aug 2 deadline for the Debt ceiling.

I've been thinking a lot about what might be next and it is very possible that the Congress allows corporations to to Bring home the offshore money for free or reduced taxes and over time. This is one way they could provide stimulus at home, especially if they tie it to some employment efforts. Timing is the key though.

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You just wanna get your first house on the cheap.

Don't worry, so do I.

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LOL, just bought a nice house at depressed prices and sold my current place in 5 days at a depressed price as well. But not nearly as depressed as the place I bought. I did the urban vs rural swap. Rural prices are down more than urban. Sold my urban place and bought a relatively new rural custom home on 1.3 acres with river front.

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Well it looks like my buddy hit the nail on the head again to the exact day calling the top.

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Hunh? It's been 5 straight weeks of decline for the S&P 500......I sold 4 weeks ago.

Moved everything into Govt. backed securities. Expect the market to be flat at best over the next 2 months.....downside risk is much greater than upside, at the moment.

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If I see just a few more posts/sentiments like this one, it will be time to go all-in out of cash and back into the market. The negativity is not quite there yet. But it's getting closer.

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I think the fear is already here. They were in border line histerics on many news shows and I haven't seen a positive article in a week and a half. I went in long on S&P's late last week. I see S&P 1250 being as low as we go, but I think we could start back up at any time. I also shorted gold as well...

Everyone feel free to take this as a sign that everything will crash Monday with gold skyrocketing.

I'm a little jaded. My last 5 trades over the last 1.5 months have gone in the complete opposite direction I needed as soon as I've entered. I'm still way up for the year, but it just gets frustrating.