Probably the worst time to start a financial website is in May considering the old adage “sell in May, go away”. The summers would be so violent that people would be scarred through winter and miss out on the so-called “bull market” that was taking place. Well, the excuse again this summer was that Europe would implode. Now rationalizers are saying the ECB will take a stronger stance on its fiscal policy and get Europe back in order. Same story every year. While I believe Europe’s consequences could be potentially devastating, the stock market seems to think otherwise. The U.S. and China are slowing sure, but still growing at a healthy rate. Knight Capital, J.P Morgan, and Morgan Stanley all dropped the ball a few times this year and made people lose trust in the banking system. But then again we never trusted the banks. So how can we make sense of this all? We can’t. All we can do is follow the trend. We have been pounding the table on this market all summer saying that you should buy stocks, but to wait for the right time. Now, for whatever reason, (maybe because summer is ending) the time has come. We are buying stocks on pullbacks unless the trend reverses. Let the games begin!
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