Buying opportunity? Both John Bollinger and Bob Brinker (Marketimer) have sent out bullish hotlines tonight, Thursday, September 22. Bollinger says "The point here is that though we find ourselves retesting the lows we are in a very bullish monetary environment. I note also that today we had way less 52-week new lows than we did when we initially revisited this level on August 8th. It may seem crazy to be bullish at these levels, but to me it seems crazy not to be."
Bob Brinker says that an attractive buying opportunity has developed and he upgrades his stock market view to attractive for purchase.
Both Bollinger and Brinker have been bullish, but it is nice seeing them confirm their views.
Investors Business Daily, however switched their current outlook to "market in correction," and recommended cutting losses. In this market, a disciplined investor's bias should be to cut losses and sell winners before they cycle into a loss. "As Thursday's action shows, there are few places safer than cash."
