Buffett sets the stage for end of bear rally/bull marketStrategists on cnbc and elsewhere have been killing themselves trying to tell people last couple of weeks that the s&p at close to 3000 with this economic crisis like a baseball game in warmup stage before first pitch is ridiculously overbought.
We saw the first leg down on friday across the board selling. Now Buffett says nothing was cheap enough to buy (e.g. doesnt reflect what happening in the economy) even at march lows. That alone should bring on more indiscriminate selling. US airlines going to be a bloodbath monday. These 2 factors combinedshould do lots of damage. I sold ac last week, it was a trade, i might do another trade if it drops enough but there are so many better opportunites in healthcare, industrials, financials that also happen to pay huge safe dividends, why would you want to own an airline, last to recover, worst sector to own for last 3 decades.... good luck