No Reason To Buy Is A Reason To Buy

The time to buy, if only for a trade, is when there is no reason to buy. I believe we are currently in that type of environment. The image below is the story box from CNBC.com

 6 out of the 7 featured stories are bearish. In late April when it was time to sell I am pretty sure most of the articles would have been bullish. I believe we will make more downside progress at some point but for now I believe that the downside is becoming a little too easy.

2 comments:

Anonymous said...

I would tend to agree but, who's buying? It still feels like there are more sellers out there than buyers.

Tsachy Mishal said...

All it would take is a cessation of the selling to get a lift. Once the market is higher people find a reason to chase.

A Goldman settlement with the SEC could come in the next week as that is the deadline for their response to the complaint.. That could give the market a lift.