Get Ready for a Firesale (November 09, 2016)

trumped

Everyone claims to LOVE a good firesale… Well, beginning tomorrow morning, investors should get their wish…

Right now, chaos reigns supreme across all asset classes…

For instance:

futures-11_09_16

screen-shot-2016-11-09-at-3-43-54-pm

For the longest time, I’ve been pounding the table about risk vs. reward… Why risk dollars chasing after pennies?

That’s a losing proposition…

The fall season has shown to be historically volatile, so for anyone with lots of cash on hand right now, you gotta be licking your chops…

You are going to get your wish…

As for me, I’m a one-trick pony… All this time, the only thing I’ve been buying are commodities: gold, silver, lithium, graphite, cobalt, copper, uranium, etc…

In other words, mining stocks… Particularly, precious metals, the absolute most hated asset class in 2015.

I’ve got a lot of dry powder, but I may not jump all in at once… I’m a little gun shy since I don’t know how crazy things will ultimately get…

 

Anyway, many like me have been clamoring for a much needed market crash for awhile… Will this time finally be it?

 

Happy Hunting!

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Jim
Jim
3 years ago

Black Friday sales are coming early this year FiF! I’ve got my dry powder ready as well, and can’t wait to go on a purchasing spree, if there is a significant drop.

JP
JP
3 years ago

I may wait for the knife to fall a bit further over the coming weeks.. but as sad as it is I have also been waiting for some sort of collapse for a while now.

My Dividend Pipeline
3 years ago

FI Fighter,

I hope you are right about a big drop, but I think once people digest everything the markets probably shoot higher pretty quickly. We’ll see!

MDP

JC
JC
3 years ago

The change in outlook just goes to show how hard making short term bets is. At one point the DJIA futures were down 800+ last night, by the time I checked this morning they were -250. First 30 min of trading and the DJIA was +50. Talk about a swing. Still prefer to sit on cash although I’ve “invested”, mainly through options exposure with 10%+ downside protection, about $15k this morning. I’ve still got lots of cash ready though, >$100k, if we do get a selloff since I just rolled over my 401k. Hope to get a chance to buy… Read more »

JC
JC
3 years ago
Reply to  FI Fighter

I still can’t believe that we saw an 1100+ pt swing in the DJIA from the 800 drop in the futures last night to the 300+ pt gain today. That’s absolutely crazy. Even if we saw the drop in the futures carry over to the markets today all it really would have done is take the market, as a whole, from overvalued to slightly less overvalued. My plan is still to try and be patient with the capital and wait for better deals. Although I have to confess seeing this much cash sitting there is hard especially since I haven’t… Read more »

Alex
Alex
3 years ago

I liquidated my portfolio besides mining silver and urbanism lithium and I was so ready to have some fun today but …… guess we shall wait made some quick money on pharma thou !

Investment Hunting
3 years ago

The day will come. People are still in shock. On the bright side, I was able to close my healthcare related options today for profits. I had planned on those puts tanking with a Hillary victory.