HGSI Doc Top Down Review 1.10.2021
Previously published earlier today, 1/2/2021 on the HGSI Community Forum. For earlier access to Dr. Scotts Top Down Review, please register at HGSI Community Forum.
We had another strong week for growth stocks. We ended the week at or near highs on all the major indices.
One wonders how far this Bull can run as we have become extended on many different measures. That said, markets can become even more extended than you think.
The markets continue to ignore bad news and feel like they want to go much higher. When I think this way, I remember that things are NEVER DIFFERENT THIS TIME.
I remain bullish and will trade the market we have, not the one I think we should be having. That said, I will continue to take profits this week (tax time is the 15th for me) and start to reduce my margin exposure and grow my cash, so I have a cushion should the market sell-off.
As the slide in my presentation says, for those of us over 50, we should be careful not to be playing chutes (snakes if you are in the UK) and ladders with our retirement money.
Please join me on my Top Down Review of the Markets