The Get Irked Week in ReviewEpisode 14 – November 19-23, 2018
In The Markets:• Although the days before Thanksgiving are typically positive, this year was different with indications that we are in a full Bear Market with any rallies being dashed by further selling and one down day after another. Even Jim Cramer said on CNBC’s Mad Money that he must admit we’re fully in a Bear Market. • Indications that the consumer is still strong came through during Black Friday sales, however with retailers discounting items more this year than any other, it’s hard to determine whether the consumer is still as strong as analysts think or if everyone can’t resist a bargain. • Bitcoin may really be done for good, plummeting another 27.9% this week from already 2018-low levels at $5,560.00 all the way down to a weekly low of $4,008.00. Once again, this is NOT a buying opportunity as there is no good news on the horizon and no other reason for cryptocurrencies to turn around. It may be years before crypto recovers from the mayhem, if ever.
Getting Started – Tools & Resources:• Get Irked released our playbook for investing in a Bear Market. Many analysts and traders will warn against buying in a Bear Market as there is no turnaround in sight, however without knowing exactly where the bottom of a market will be, what’s a good long-term investment strategy? Get Irked’s got your back.
Trades in Play:• With the markets closed for Thanksgiving and only open for a half-day on Black Friday, it was a slow week for our Trades in Play, but that doesn’t mean there wasn’t any action. Stay tuned to our closed Facebook group for updates later this weekend.
Disclaimer: Eric "Irk" Jacobson and all other Get Irked contributors are not investment or financial advisers. All strategies, trading ideas, and other information presented comes from non-professional, amateur investors and traders sharing techniques and ideas for general information purposes.
As always, all individuals should consult their financial advisers to determine if an investing idea is right for them. All investing comes with levels of risk with some ideas and strategies carrying more risk than others.
As an individual investor, you are accountable for assessing all risk to determine if the strategy or idea fits with your investment style. All information on Get Irked is presented for educational and informational purposes only.