Markets moved higher during the overnight trading session and complacency that the market will continue its move higher is getting stronger. I am more bearish now than bullish and it is not because of new Covid strains, China issues or any other known issues that typically worry markets. It is simply that we are due for a correction. Of course when it does happen, pundits will blame what I mentioned above and more. I am not here to call a top but I do believe the the next 5% will be down and not up. I believe that growth going forward will slow and the market prices in growth or future earnings six to nine months in the future. I do not believe that is yet priced in and that is what I believe will allow the market to correct. I don’t know when it will happen but it will happen so now you will not be surprised when it does. So now is the time to accumulate cash and be sure to have a list of stocks that you want to own. That is the good part of looking forward to a 5% to 10% correction.
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