Don’t fight the tape

A very old Wall Street expression and one of the most valid is "don’t fight the tape". Although I have been solidly bearish in recent weeks I now think that the market is poised for a ride on the upside.  During the past week the market had lots of reasons to sell-off big time but for the most part, stocks held up well and the averages finished the week on the upside.  I have pointed out that stocks are on average are modestly valued and some bargains were available.  The shopping started last week and will likely resume with renewed vigor this week. 

Leave a Reply

Your email address will not be published.