They do suck. I mean how many times can the bears possibly blow a sell-off that is handed to them on a silver platter.
Consequently, sell-offs that appear to be substantial, like the one last Thursday, has become a green light to buy the dip.
Sure you can have a few multi-day sell-offs but those usually entail declines that are fractional losses that add up to no more than two or three points combined. So those aren’t anything worth getting excited about.
Don’t get me wrong, I’m no permabear, that can be clearly seen by my past performance that I have posted for basically eight years now, but I do recognize the huge opportunity that looms for the bears if they could simply exhaust the bulls of their ability to buy the dip following every significant sell-off. The fear that would grip this market on a sustained sell-off would provide some incredible profit opportunities that the S&P 500 isn’t providing when it can only manage to climb higher five or six points at a time.
For now, waive off the bears. They need to show us something before we get net short, and until then, keep buying.
Here’s my buyable list of stocks to follow: