A bull market is like a rapidly rising escalator. Now one can certainly run down the up escalator but it's not the most efficient way to travel (invest).
The same can be said for a bear market. Why would anyone want to run up the down escalator?
Doesn't make a lot of sense does it. Any intelligent person would just step on and go for the ride. But this is exactly what most retail investors do. They repeatedly try to short bull markets or go long in bear markets.
And for whatever insane reason they seek out contrary opinions to support their position.
Folks in a bull market you don't listen to the likes of Mish, Karl Denniger or Xtrends. Doing so will destroy your account. And I don't say that because I think what they say is untrue. Many of the things they talk about are absolutely true. The problem is that we are in a cyclical bull market, the escalator is running uphill, so negative fundamentals don't matter.
You pay attention to permabears when we are in a bear market. In a bull market you take advise from perma bulls.
The escalator is running uphill. Now is not the time to try and get to the bottom. It's time to relax and take the ride to the top.
Market Direction Change
2 weeks ago