The last two weeks (since my last post) may have seemed a long time where S&P500 churned sideways and oscillated in the 3850–3900s range. Clearly, the pullback I had been expecting after a huge run lasted a bit longer.
Such hibernation and profit booking (as you saw me do as well) is perfectly healthy and part of a strong bull run. As I write this, S&P500 staged a strong two day turnaround rising almost 135 points from Thursday 3/26 low to Friday 3/27 high and closing at another all time high!
So what’s next? This is not the time to wait for weakness in stocks or keep some cash. Its the time to sit tight and watch your past investments grow as S&P prepares for another leg higher to cross 4000! And its not difficult to make money of the stock market, that's the whole point of this blog!
Or if you do not have a position, you should buy as the quarter nears its end (market is difficult to time as per the trading principles).
Oh yeah and don’t forget Bitcoin — it gave a good entry point again around 51k in the last days and is poised to break new highs. After all, even experts are putting part of their portfolio in bitcoin!
Get ready to roll in EZMoney!