DOW -- Patience -- Check!
Doug,
"The market is in that shakey price range again and for long-term plays, the patience to wait for 7200 to 7400 on the Dow is probably just as important as the patience to wait for longer term positions to make progress."
Couldn't agree more. The picture everyone's painting is that the bull's four legs, techs, energy, money, and drugs, have all tasted dust now except for drugs. (As I remember, they took a tumble in July.)
I don't know if this is true. Generally, when everyone is saying the same thing, that "truth" has already been discounted by at least 75%. I do know, 100 percent, however, that you cannot lose money by standing on the sidelines during tumult, then catching the remaining percentage once the picture becomes clearer. The first few week of January--which some say is the barometer--have "hinted" at nothing but uncertainty.
Ivan |
