My news feeds have been yapping all week about a potential top in equities. Some say it’s now, some say it’s in the fall and some say it’s next year. What a load of crap.
When are these people going to realize that it is flat out impossible to predict a top, a bottom or whatever. The only thing we can do as investors is manage our risk to limit losses or protect gains.
One smart guy said this today…”It’s like musical chairs. Keep dancing while the music is playing but dance near the chairs”.
The music is still playing my friends…keep dancing.
Does this look like a top?
SPDR’s S&P 500 Trust Series ETF (SPY) weekly
No! No it doesn’t look like a top. SPY keeps making new highs. How can you call this a top? I suppose you could call any day a top but that’s pretty ridiculous and certainly not helpful to anyone.
Keep dancing my friends. I’m secretly hoping for a nice pullback to buy more.
Trade Smart,
Don