>Buying Opportunity

>I will dispense with my obscure titles and go right for the gut. As of this morning, for the first time, all major exchanges have moved safely to the green zone. The market has dropped to the oversold zone to a point that there are huge odds the market will recoil from this level for the next few months. This is very similar to the bottom day of the bear market in March 2003.

You have to put yesterday in perspective. On May 6, the financial market shook in terror with a phantom 1000 point drop; putting the retail investor on the sidelines. The S&P is down about 12% from its high point a few weeks ago. It is hard to say where support lies, but the first level lies pretty close to yesterday’s lows.

The upside bull market will reinvigorate itself and the major part of the shakeout is over. I will have a more in depth observation Monday as we see how things go today and over the weekend. I am looking for buying opportunities not selling.

Thanks
Bill

Advertisements

About Riley Wealth

We’re here to help you achieve your financial goals, manage your money, and make your life better. Our firm is not like most other investment advisors. We are an independent advisory firm, with no ties to a large Wall Street firm. You receive advice unblemished by the conflicts of interest that have plagued Wall Street firms. We are free to recommend the best financial products to help you meet your goals. And with no sales quotas, we can devote the time needed to properly research and monitor your investments. You also benefit from our size. As a boutique advisory serving high-net-worth individuals, every relationship is important to us. With no national ad campaigns, we rely on referrals from people in our community to grow our business. You won’t be treated like just another account number, and there is no corporate bureaucracy when you need an answer about your money. Our staff understands that you expect excellent service.
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s