A market correction may be coming soon again, but we are still in the bull market mood as mentioned before.
So far, no dangerous signs for bulls yet. Even the fake top has not been formed yet. But personally, I really hope the market can make some good corrections for the sake of the long term healthy bull's run.
Bottom Line.
ReplyDeleteIs it smart to buy long at these levels? I guess if you subscibe to buy high and sell higher.
Personally the odds must be in the favor of short plays,
Jim,
ReplyDeleteS&P 500 passed 1000 benchmark, NASDAQ passed 2000 benchmark, Dow Jones passed 10000 benchmark. These reminds me it's a new bull market, even more, the bulls may not stop until some substantial magnitude of moves, measured both in time and in price, are achieved.
A correction will come. But some are just good opportunities to buy in since after that a new higher high will be printed. Some corrections are major corrections, it may change the market trend. So far, I didn't see any trend-reversal corrections. All corrections are healthy and good for the bulls.
If we add longs at each dip since March, the profits so far should be very nice.
So, the conclusion is, adding at the dip and sell into the new higher highs are working pretty well so far.
Cheers,
Tiger