I am close to declaring a bottom on the market.
VIX index is getting lower and gold is getting a well deserved correction.
If tomorrow we see a decrease again in the VIX and another 50--100$ drop in gold i will be inclined to say we have achieved a bottom.
In any case, bottom fishing is still great and there are still way undervalued stocks actually: BPOP for 2$, DAN for 11,61$ Ford for 10,45$ and the list goes on.
I would not use all cash asides to buy immediately, but i have already start buying since last friday one smll step at the time and buying on the down dips.
Market craziness is not over but i think it is now safe to get back in and those that are still thinking about going back in recession: i do not think so.
VIX index is getting lower and gold is getting a well deserved correction.
If tomorrow we see a decrease again in the VIX and another 50--100$ drop in gold i will be inclined to say we have achieved a bottom.
In any case, bottom fishing is still great and there are still way undervalued stocks actually: BPOP for 2$, DAN for 11,61$ Ford for 10,45$ and the list goes on.
I would not use all cash asides to buy immediately, but i have already start buying since last friday one smll step at the time and buying on the down dips.
Market craziness is not over but i think it is now safe to get back in and those that are still thinking about going back in recession: i do not think so.
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