Every so often I come across something I file away in my personal "Words That Haunt Us" folder.
It contains things that Wall Street strategists say during and after sharp stock market corrections. I've come to notice that many of them push for people to go long on a stock, only to watch the market plummet.
And here lies the harsh reality of trading: Wall Street reserves the right to change its mind from bullish to bearish — whenever it pleases.
The stock market always looks good, until it doesn't.
For example, even with the Nasdaq and S&P 500 being down about 5% last week, Wall Street strategists remain incredibly upbeat and bullish.
We've seen it happen time and time again, so why should now be any different?
In my own investing and trading, I like to assume the best and prepare for the worst… And the best way to do that is with bear ETFs. |
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