Lions, at the time I am writing this article the US 10 year yield has risen to 2.396%, and what this means is a lot of cash is leaving the bond market.
Also as I am writing this article the US equity market is about at the flatline however, all of this cash leaving the bond market is going to go somewhere, and if you have been following my work I have been explaining to you how and why it will continue to flow into the stock market. Moreover, if you have been following my advice to be long this market you have been making a lot of cash.
It is certainly no secret that this market is way over owned at this time, but that does not mean a correction or drop is imminent. It would certainly be nice to see this market burn off some of the gains which it has put on over the past several weeks, but there is no guarantee that this will happen. Now, this does not mean you should be going “all in” to this market at this time however, you should be looking for opportunities to continue to be long this market.
Do not, and I repeat do not try to get fancy with this market and bet against it in this environment, because barring a Black Swan event this market has almost no where to go except higher.
Gregory Mannarino
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