I am amazed at how bullish everyone has become. Barrons over the weekend had a page on 25 stocks you should buy now. And that was after the worst week for the Dow in recent memory. What concerns me is earnings. Companies are starting to report Q3 earnings and I expect a lot of them to say that business is tough. Especially is you are in the B2C market.
The auto market is in a free fall, and the airline, hotel, housing and retail sectors are not in much better shape. I am hoping that some negative earnings reports in the next couple of weeks will push the market back down into the mid to low 8,000’s so I can pick up some more stocks.
I am bullish for the long-run, but think that the market has gotten a little ahead of itself the last couple of days.
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