It seems that many market participants were not prepared for this pullback we have been getting of late. Moreover, many investors have been turning terribly bearish during this shallow pullback that it may not last terribly long.
In fact, when I peruse the titles trending on Seeking Alpha today, this is what I see:
The Stock Market Party May Finally Be Over
Market Outlook: Crash On The Sidelines
Yes, many have turned quite bearish, looking for the type of action we saw one year ago. But, I am sorry to tell you that is unlikely, at least in my humble opinion.
Last year, I was shorting in February, and then went long as we were approaching the lows later in March.
And, recently, I told the members of The Market Pinball Wizard that I was protecting my positions when we were around 3900SPX (just 50 points off the all time high), as the market made it quite clear to me earlier this week we were setting up for a pullback before the next major market rally takes hold in the spring.
And, as they were appropriately prepared for this pullback, our members have been quite ecstatic with our work, as this member noted today:
“Your team are the best traders & analysts. Truly a world class trading site” (MambaMentality)
So, come join us at The Market Pinball Wizard as we work on identifying the bottom of this pullback, and prepare for the next bullish phase in the market
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"I have been a member less than one year and what I have learned has been a game changer" (dasak5297)
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