Friday, May 21, 2010

Fundamentals Don't Matter

We have gone into primal emotions of survival and fear.  The greed is thrown out the window.  Investors are going into bunker mode and will not reach for stocks until the coast is clear.  By that time, we'll already be well off the lows.  The key is to pick the bottom.  Those saying bottom picking is dangerous don't understand that buying rallies after a correction is even more dangerous.  I think the time to buy has come.  The futures are gapping down again, but unusually, Europe is outperforming the US again.  This tells me European equities is sold out.  The bears have already stationed there.  They are trying to station US equities now.

3 comments:

Petsamo said...

I hear Cramer told everyone not to put new money into the market until DOW 9000. So, from here on down, it's all up to traders and professionals. I don't think we'll drop that low though.

Anonymous said...

Did u buy?

Market Owl said...

Yes, I'm long.