From the desk of Vance Howard:
The markets staged a relief rally this week, giving hope the bear market is coming to an end. Unfortunately, the HCM-BuyLine® remains negative and the trend is still down. This did little to affect even the short-term trend, so odds are that this rally was driven by shorts covering and maybe some speculators trying to pick up deals. By the way, there are some great deals out there. Ask yourself this question: if you bought today, would you be happy you did three years from now? I’ll give you my answer to that question using odds. The odds of the market being higher three year from now are incredibly high, and I would say even as high as 90% or better. When you look at stocks like Wells Fargo, Qualcomm, Inc., even Apple and Microsoft are looking like very strong buys. Being patient and waiting until the trend changes is important. We are in a bear market and the probability of the markets selling off even more is very high.
Vance Howard
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