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I like them just a little but there is maybe money to be made on them. Short to medium term only probably.
Having been out of the market for a while I merely want to ‘cut my teeth’ in preparation for bigger money to be made further out. There is never a perfect time to get back in but the coming weeks could provide a window. And certainly I must hone my skill ahead of the perfect time. I did in the last week and it was good to know I have not lost it. It was good to be back.
The market is now facing a time of indecision:
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Buyers and sellers are sort of in balance. Neither have a strong conviction about ‘will he or won’t he’. Will “He’ bring about a sustained rally or will any rally he stimulates, fade as fear grows as the date of his inauguration draws nearer. Confusion is a time to make some quick bucks on short term trades.
The weekly chart says we could see a major sell off by inauguration date:
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If so we could finish back at levels during the big slide of the GFC 2008 and also at levels around the going nowhere three years between 2010 and 2012. That is why there is never a hurry to get on board. There will always be another opportunity.
Stocks I am watching are WEB and WHC:
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I expect these stocks could buck the trend and give you a small sleigh ride with Santa by years end. No rush to buy these. Buy on an off day as there has been plenty and there will be more in the coming days. If your buys turn south then throw them back and not a lot lost.
It is like getting back into training again. Can you imagine yourself as a sprinter that is making a comeback? Apart from the daily hours on the track, you also practice over and over darting as the firing gun blasts and then sprinting to the end. Pressing that buy button and sell button also takes practice.
I will only play with these just to sharpen my skills for the year ahead when I hope to join a long new trend up.
Enjoy the ride
Tom Scollon
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