Lots of negative vibes out on the market today. $$ Is it time to go long stocks?
The market is retesting the June lows. For those of us with cash on the sidelines, not a bad place to bet against the panic. Can always get out if it drops more.
Yes, the market is below the 200dma and the 50dma is trending lower. I was listening to someone say that this is not the time to be buying stocks. Yet, when we look back at the market, there does come a point each and every time when the market is like this that it is the exact time to buy.
Is this now? That’s the question! The market still in the historically bad period (Summer). We’re in the mid-term election year, which usually sees a sell-off followed by a rally.
I remain with lots of cash on the sidelines, but may put some money back to work.