I was surprised !

Wednesday, November 21, 2018 Francisco Carneiro 0 Comments

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Morgan Stanley CEO Says He's Not Surprised by Market Correction

James Gorman sees impact of monetary tightening, politics
Says Morgan Stanley well able to deal with market turmoil

By Erik Schatzker and Cormac Mullen
(Bloomberg) --

Tighter monetary conditions worldwide and political discord mean Morgan Stanley Chief Executive Officer James Gorman is not surprised there is an ongoing market sell-off.

I was surprised because the market did a breakout to new highs on October 3rd and in the same month turned down. That is not normal as as such it was a mistake not to cut risk at that time. I was wrong on that. If something is out of normal we should pay attention

now the situation is the following the Nasdaq did break the October lows (2nd graph) sentiment is improving but we are in a deep pocket of air the market can keep falling more.

The Dow and the S&P did not break the October lows yet and their graph is more constructive. Dow is down 9,75 since the all time highs.

I am looking like a fool my scenario did not pan out it doesn't look like we are going to have a rally until the FED meeting on the 19th. Usually when i look like a fool the market is about to turn however it's legitimate to cut risk NOW I am going to do it on a personal level

If the market turns around and rally's i will change course again and look like a fool......

i don't care

i know that 10 years from now the market will be much higher but the market at the moment does not look nice.

EXIT all or a bit but act

Note: if the markets have two big days up in a row with volume i will re-enter (IBD method)