Although I am a little cautious short term, its still a ridiculous secular bull market. Just amazing.
What the pundits get wrong are the very things that make a bull market. Back in April they said the market was due for a 10-20% correction because IPO’s were too hot. Guess what? IPO’s happen in raging bull markets. The Russell and Nasdaq corrected but are now near highs, just two months later. Those dips need to be bought or you will never get in this market. Most don’t buy dips, they would rather chase performance, and that’s what drives prices higher in the end.
M&A activity is a bullish sign for markets from my point of view, but now the “pundits” are calling for a train wreck because we are seeing takeovers. I call bullshit. This is bullish stuff.
I would love a 10% correction so I could buy things all over again. Not so sure I’ll get it though.