Are We Off to the Moon After the Market Bounce Back?
By: Steve Smith
We’re having a strong day in the markets today with the Dow up over 2 points as I write this, the S&P up almost a point and a half.
The Nasdaq is lagging behind, likely because of the tech names that have been slammed the last few days.
So with all the indices on the upswing, is it time for us to take an aggressive bull stance?
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I don’t think so. As I have said over and over the last several months, caution is the name of the game.
I know, it’s boring. It’s much more exciting to see the stories of some dead broke pizza guy who bought BTC at $.50 and is now a multi-millionaire.
But here’s the thing, for every one person who changed their life on some crypto or meme stock or tulip speculation there are 1000, maybe 10000 people who lost everything.
I’ve said it over and over, I’m not opposed to speculation…
But it has to be with play money, not investing money.
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And I am looking to bump that by a few points by the end of the year.
How many mutual funds, managed accounts or index funds have that kind of track record.
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To Your Success,
PS. Require Government Disclosure: Past performance is no guarantee to future gains.
However, a winning track record is a heck of a lot better than a losing one!