The bottom won’t be easy…
I’d pondered aloud last night at the close whether yesterday’s rally was the start of something sustainable for the near term or whether it would be fleeting…and, at least for today, at least for this morning, we’ve got our answer, as the market gives back all of yesterday’s gains and hits the DJIA 12k mark on the downside again. The bottom won’t be easy and we can be sure that the market will challenge our fortitude and our discipline before we turn back again. I’ve been here before.
The way this market has pulled back so steadily from its highs over days and weeks of consistent drip lower, I don’t figure this market will turn until the last of the weak bulls get washed out.
As you know, I’m looking to do some more buying this week and I’ll probably do some more today and will continue to step up the size of my purchases as the week goes on. DBA, Corning and some Visteon are on the docket for purchase today, using common stock to build my long-term positions in these names closer to full.
