Sue, I've been reading too many of the Elliott Wave Theory and Fibonacci posts that say this leg/ wave down will be the fiercest. Also, I've heard a theory of 13 years, forget Friday the 13th. So you get 74, 87 and ? 2000. Honestly, the economy is strong, inflation low, employment good, goldilocks economy so how long does it stay that way? Priced for perfection, we could go nowhere for 5 years and most stocks would be just catching their breath and up to their valuations. I don't wish to talk about bears and bulls. I hate when folks say we have had a 10 year bull or 20 year bull, etc. The market is efficient at removing excesses so when the Naz has had more 10%+ moves (up and down) this year than all years of it's history, then calling it a bull or bear seems silly.
So what do we buy after Friday's move? Solid plays to be held til next Feb/March timeframe. |
