RE:Long time market bull Tom Lee turns bearishflamingogold wrote: There are perma bulls and perma bears. Coming out of covid Tom Lee has been one of the stronger bulls out there and his record stands out from the rest. For the first time in years he's now calling for a pullback up to 10%. At current market levels, that's not a disaster and fits into the "correction" territory. No recession either. I'm liking this ride, but a 10% selloff would be a nice reset on the road higher. Without it, the higher and higher we go before one just opens the door to a more viscious selloff.
The higher we go, the more I have been moving out of split commoms and into prefs except for some core positions like DGS where my average is in the 1's in a TFSA so will hang on to that one forever.
https://www.cnbc.com/2024/09/19/market-bull-tom-lee-hesitant-to-jump-into-this-post-fed-rally.html
If 2025 sees only 10% down... i will be very surprised... US election years are rarely down markets.. but the year after.... not more of the same at all.
Stock market researcher Yale Hirsch published the first edition of the "Stock Trader’s Almanac" in 1967. The guidebook became a popular tool for day traders and fund managershoping to maximize their returns by timing the market. The almanac introduced a number of influential theories, including the “Santa Claus Rally” in December and the “Best Six Months” hypothesis, which proposed that stock prices have a tendency to dip during the summer and fall.2
Hirsch’s aphorisms also included the belief that the four-year presidential election cycle is a key indicator of stock market performance. Using data going back several decades, the Wall Street historian posited that the first year or two of a presidential term coincided with the weakest stock performance.