Post by
Bertanderson on Sep 14, 2022 3:05pm
S&P near 3900 Support Level
Technical analysts are saying to keep buying stocks regardless of inflation and rising interest rates to keep the S&P technical support level above 3900. Does that make any sense? Why would investors keep buying stocks, when dark economic clouds are ahead. Would you go to the beach or play golf if there was a storm brewing. Really people...be defensive, look for quality, growing revenue (if possible), low P/Es, or stay on the sidelines with some cash in 5% GICs for the next 6 months to one year or maybe 1 1/2 years when inflation get's down to maybe 4%. Mortgage rates on homes are at 6% and may even go to 10% if we get 2 or 3 more rate hikes. We haven't seen these rates for many years but I was around when rates where 18% to bring down inflation from the same evels we are seeing today. People have to stop looking through rose coloured glasses and face reality.
Comment by
Angler101 on Sep 14, 2022 4:04pm
Well, I gotta say, Bert, thank goodness at least you’re here to save us all from ourselves....what would we do without you?!....Lol.