“When good news about the market hits the front page of the New York Times, sell.”
— Bernard Baruch
Today the Dow Jones Industrial Average made a new all time high. Quite a feat in light of events of the last few years as well as the ongoing problems. That said, we thought this as good a time as any to return from our self-imposed break (many thanks to all of you who reached out). We want to make a couple of points about this chart.
- There will likely be some johnny come latelys that jump on board in the next few days and push the Dow higher
- There have been plenty of opportunities to trade the Dow effectively WITHOUT just holding it
- Now is probably the worst time to jump in and buy… but lots of people will do it anyway
- There will be lots of “investment experts” telling you that we are going straight up to 20,000 from here… and they are wrong
- There will be lots of “investment experts” telling you that we are going straight back to 10,000 from here… and they are wrong
If you are interested in buying/selling the market, we suggest you wait for (stalk) a more prudent entry… but that’s just us.
For more on the potential upside of the market, check this out…
For the downside argument, have a look here…
Pick a side (doesn’t really matter which)… and trade accordingly.