The Waiting Place
Indulge me for a minute, if you will. You see, I have three sons – and each and every night when they were too young to read for themselves, my wife and I read them a bedtime story. We are still doing it with the youngest. One of my favorite books to read to them has been Dr. Seuss’s The Places You’ll Go. I always liked the message of the story, and it was written in such a way that it makes sense even to toddlers.
At one point in the story, there’s a warning about getting confused, losing your way, and winding up in the Waiting Place. The Waiting Place is full of people just waiting. “Waiting for a train to go / or a bus to come, or a plane to go / or the mail to come, or the rain to go…” And so forth.
But a waiting place isn’t necessarily a bad place to be. Especially when it comes to your investments. Right now, I feel like I am in a waiting place. Going through my charts each morning, I am finding it difficult to find trades that I am willing to send to my K.I.S.S. investment service subscribers. My gut tells me that we are about to see a huge rally in the overall market – and with the number of stocks that are oversold, it is difficult to recommend put positions right now.
So I will just wait patiently until I see a clear signal. Sometimes being in cash is the best place to be.
[Ed. Note: Wait it out – but you have to be ready to take action when the moment strikes. There are going to be some incredible opportunities out there, and market analyst Rick Pendergraft has put together an educational program that lays out the simple steps you need to take advantage of them. Not only do you get three months of Rick’s best recommendations, you also learn how to make good investment choices yourself.]
Rick Pendergraft
Inspired by his high school economics teacher, Rick Pendergraft fell in love with the markets at an early age. He entered his first investing competition at 17, and opened his first brokerage account before he finished college. At the age of 23, on the third options trade he had ever placed, Rick turned $1,800 into $22,000 in less than a week, when the company he bought became the target of a takeover. He admits it was a stroke of luck, but it was a memorable education as to the leverage that options can provide. After a ten year career in banking, Rick decided to pursue trading full-time. To get his foot in the door, he started out in the sales department at Schaeffer's Investment Research. It was not long before his talent was recognized and he was invited to apprentice under Bernie Schaeffer, one of the top options traders in the world. Rick thrived in his new position and twice received the award for "Top Trader."Rick has developed a loyal following of readers who are grateful for his timely warnings and profitable advice. He is widely recognized as a market expert and has been frequently quoted by Reuters, BusinessWeek, Forbes, USA Today, the New York Times, and the Washington Post. Rick's primary focus is on identifying short and intermediate term rising and falling trends in the major market sectors. His analysis is based on technical factors along with indicators of market sentimentRick lives near Delray Beach, FL with his wife and three children.