Friday, August 21, 2009

10 % !!! What to do

For the past month, actually ALL of August I have heard no phrase more ;

"The market is overbought...I expect a 10% correction...then we can go higher."

After 20+ years professionally in this market, if there is one thing I DO know to be true - If EVERYONE is saying it ...aint gonna happen. So while a pullback will come at some point, rest assured - it aint yet, and it aint 10%.

On a similar note .... (when everyone is saying it), when everyone is in a 'crowded trade', those don't work either. Can you say Natural gas...Solars....Ultra Short Treasuries or *gulp* even Gold? ...think about it.

Holler at me - I am @A_F on Twitter

2 comments:

  1. Experts are always coming up with there expectations about market, but i believe market reacts in its own way.
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