Nut-So Market Challenges Traders

September 27, 2017

The stock market’s gratuitous price swings have become so tedious and exhausting lately that it would be tempting for serious market-watchers and traders to take a month off. Mr. Market is surely trying to tell us something, but exactly what may lie beyond a rational person’s patience and understanding. My gut feeling is that the bull market begun in 2009 is in its death throes, unable to make headway against grave political and economic uncertainties that should have killed buyers’ enthusiasm long ago. And yet, if one were to focus on the prospect of a mass repatriation of corporate cash being hoarded overseas by U.S. multinationals, it is not farfetched to imagine the Dow Index at 30,000.

In any event, all that we as traders and investors can do in the meantime is hope to catch a gust now and then that pushes stocks into a trend that was mildly foreseeable. It’s not much to ask — but then, answering prayers was never Mr. Markets specialty.

********

If you don’t subscribe, click here for a free two-week trial that will allow you to enter the Rick’s Picks chat room, where great traders from around the world swap ideas 24/7.

Gold ETFs outflow reaches Rs 462 crore in Apr-Aug of FY'17