Throw Your Hands Up In The Air & Buy ‘em Higher Like You Just Don’t Care
- Posted by ppearlman
- on January 23rd, 2013
There are so many out there who have missed this rally or who have been trying to short every rip.
Its excruciating for those who have not participated.
You will get tempted and tempted again to throw your hands up in the air and buy ‘em higher like you just don’t care as you watch those who have been well positioned remain bullish or take their victory laps.
Yet, now is not the time to chase.
Last year, the $SPX rallied 13%. Beautiful. But even so, there were 2 corrections that lasted 2 months each, one for 10% and one for 8%.
You will get your chance even though it iss excruciating to watch the market grind higher without you.
I remain bullish long term, have no idea when the correction is coming and also don’t know where it will begin. But its coming.
Tie yourself to the mast and avoid the sirens.
Its the hardest thing to do in the universe but that morning you wake up in February or May and the world appears to be ending, you will be flush and ready to deploy capital rationally.
Related: The Tao of Missing a Trade
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Phil is the interactive editor at Yahoo! Finance. Formerly, he was the executive editor at StockTwits. He is a partner at Social Leverage, LLC and makes early stage investments in web based companies. (More)