So after the rough fourth quarter and the sharp selloff in December, we’re finally back to the high point where the market was trading before everyone started getting concerned.
So what does that mean going forward?
Is it time to sell your investments and get out? Or does this bull market still have legs?
Read on below for the answer…
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An Unlikely Catalyst Should Push this Bull Market Higher
The financial news has been breathless over this recovery.
CNBC in particular has invited guest after guest to come on and share their opinion about whether the market will be able to hold its gains and where investors should expect stocks to go from here.
One guest especially caught my attention.
I recognized him from his interview on the same program in December, warning people the economy was in terrible shape and that the market was headed a lot lower for a long period of time.
Of course that’s not what happened.
Instead, the market bottomed on Christmas Eve, and it’s been marching steadily higher ever since. And the underlying economy has been quite strong as well.
American corporations continue to offer hundreds of thousands of new jobs, all while paying more and growing profits.
And workers who can now find jobs much more easily — and who are pulling in bigger paychecks — are spending more on apparel, on travel, on pickup trucks and SUVs, and on new homes and remodeling projects.
In short, it’s a very prosperous time!
But the Wall Street “expert” on CNBC just couldn’t bring himself to say that he was wrong.
Instead, he said that everyone else who is buying stocks right now is wrong. He said the economic statistics were misleading, and he tried to find a few fringe data points to back up his statements.
Now you should know, this is not a dumb guy! He’s a money manager with hundreds of millions to invest. And he’s sitting on the sidelines because he doesn’t yet believe that the market can keep pushing higher.
Also, he’s not alone!
This guy may be a bit more outspoken than some of the other skeptical investors. But there are many other powerful Wall Streeters with money NOT in the market, each with various degrees of skepticism when it comes to the market’s rebound.
And that’s great news for us!
Because as the market trades higher — and especially now that we’ve fully recovered the losses from the 2018 pullback — these large Wall Street money managers are eventually going to have to put their capital back to work.
And as that money moves back into the market, it will push stocks even higher, giving us some great opportunities to profit!
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Wall Street Managers Missing the Rally is Great News for Us!
You see, Wall Street isn’t always right. I didn’t get every trade right when I managed millions of dollars at a hedge fund. And I STILL don’t get every call right when I look at where the market is going. (Anyone who tells you they’re right all the time is a liar.)
But they can’t stay wrong forever. Especially not when the market keeps moving higher like this.
As a manager of someone else’s money, one of the most dangerous things for your career is to miss a major move when the market is trading higher.
Can you imagine stepping in front of a gathering of your wealthy and powerful clients and telling them, “Yes, the market had a spectacular year, but we didn’t make any money because I don’t believe the economy is really improving. Therefore, I kept your money on the sidelines. You’ll thank me one day when the market trades back lower.”
He probably wouldn’t be able to finish the statement before his clients start pulling their money out and moving to invest with another manager who WILL participate in a positive market.
All that is to say there’s a lot of money on the sidelines right now. And money managers who are not fully invested have an acute case of fear of missing out (FOMO), especially now that the market hit a new closing high.
So from this upcoming inflow of capital alone, I expect to see a substantial push above these new highs as skeptical money managers finally start buying before their clients find somebody else that will.
I hope by now you’re already positioned appropriately. However, if you’re not, I recommend doing so soon!