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  1. Home
  2. / Investing

Bears Are Giving It Another Go

The dip buyers always seem to show up to save us, but you have to wonder if we are due.
By JAMES "REV SHARK" DEPORRE
Jan 12, 2017 | 10:54 AM EST
Stocks quotes in this article: TWM

The number of bears calling for a major market top has been growing recently. It isn't any big mystery what they are thinking. The Trump rally is showing signs of slowing, and without the support of a dovish central bank there isn't much to drive this market. Earnings season starts tomorrow with some big banks, but few folks seem to be expecting that earnings will be a big positive catalyst.

Some bears were looking for a "sell the news" reaction to the Trump press conference yesterday. That did occur for a few minutes, but the computers went to work and produced a nice squeeze into the close.

The bears have regrouped and are giving it another try this morning. The market has not had any major down day since October, when the S&P 500 was down 1.26% on Oct. 11. The dip buyers always seem to show up to save us, but you have to wonder if we are due.

I've been whining for a while about not being able to put much money to work. That is what should happen as market conditions deteriorate. If you pay attention to the price action in your stocks you don't need to be a market timer.

I did add some ProShares UltraShort Russell 2000 ETF (TWM) this morning and cut back a few positions. I'm very comfortable with the way I'm positioned, but may add some more TWM. I'll be looking for some new longs as well, but entry points will take some time.

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At the time of publication, Rev Shark was long TWM.

TAGS: Investing | U.S. Equity | Markets | How-to | Stocks

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