TVO Market Barometer 8/4/15

TVO MB 8-4-15b

My good friend RB (let’s just say his investment firm always makes the world’s top 10 list) says he knows it’s a bottom when his top clients start calling him… raring to sell. Even though he advises them against it, the pattern among them is very clear… buy at the top, sell at the bottom. And contrary to popular belief, the big names like Apple are always the last to go (folks usually clear out the junk first before parting with what they hold dear). But how can it be a bottom when we haven’t even had our “long-awaited” and “well-deserved”, “10% or more” correction? Perhaps the real meaning of hitting bottom is that you’ll do almost anything to end the pain and frustration (how much more rate hike suspense can one take?), and maybe this endless sideways market has finally just about reached that point for some. Just a little food for thought as we wait once again for the Fed and the job numbers. -MD

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