Looking around, there wasn’t much in the way of major negative news, yet the market still fell. Semiconductors led the decline. SPCX and TSLA reported decent earnings and even surged at first, but then it turned into a classic “sell the news” move, with investors heading for the exits. Everyone had bet on expectations and then pulled out.
What’s really weighing on the market is high oil prices and the approaching U.S. midterm elections. This is just a tough market to trade. Sharp moves in both directions are turning liquidity on both the long and short sides into fuel.
But a decline isn’t necessarily a bad thing—it at least gives you a chance to pick up battered shares at lower prices. For now, either sit tight and stay on the sidelines, or wait for bargains.
What’s really weighing on the market is high oil prices and the approaching U.S. midterm elections. This is just a tough market to trade. Sharp moves in both directions are turning liquidity on both the long and short sides into fuel.
But a decline isn’t necessarily a bad thing—it at least gives you a chance to pick up battered shares at lower prices. For now, either sit tight and stay on the sidelines, or wait for bargains.
