Full disclosure I'm a bear sitting on a large sum of money that only became available last week (normally DCA but didn't want to buy right after a run up).
Sure there is good and bad news all over, but we managed to rally last week pretty hard. Typically, after that kind of action, we expect a bit of a pullback in the following week assuming all else remains equal. Yesterday, we found out that OPEC is intentionally reducing supply to jack up the price of oil, which, to me, sounds like bad news for the rest of the market. Yet, the S&P 500 managed to stay green today. What gives? Am I blinded by what I want to happen, or is this drop just being delayed?
Leave a Reply