Not a green day but not that red either - which is surprising. A big run on Friday and last week, one would assume a massive pull back today - did not happen. Definitely a good sign. Russel 2K ended up green, which is usually indicator for the growth stocks. Read the following this weekend, wanted to share -
As bad as [this year] has been for investors, the good news is previous years that were down at least 15% at the midway point to the year saw the final six months higher every single time, with an average return of nearly 24%,” LPL Financial chief market strategist Ryan Detrick noted earlier this week.
I certainly hope Ryan is correct. VIX remaining below 28 is encouraging as well. At the end there are real FUD exists in market, and I predict if the fear gage does not go down, we will not see sustainable market recovery. The operative term here is “sustainable”.
Strategy : Look for short term gains; hold on to the long term securities.