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Investors Find A Reason To Sell, Teeing Up A New Buying Opportunity

Investors Find A Reason To Sell, Teeing Up A New Buying Opportunity

When I'm in my sales role, I view every prospective client as falling into one of two broad baskets: those looking for a reason to say yes, and those looking for a reason to say no. I always try to focus on the former and spend little time on the latter. Likewise, last week's market was dominated by those looking for a reason to sell. And so they did. Good news in the jobs and unemployment reports spooked investors on Friday, and stocks fell hard. So, for the moment we are back to a Fed-driven good-news-is-bad-news story line, or so it would seem. However, the real story is that when markets are overbought and hitting new highs on declining volume, investors look for any catalyst to take profits. But make no mistake, all signs point to more upside in U.S. equities. Bulls will simply wait for the moment when investors… Read More …

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