James "Rev Shark" DePorre, a Real Money contributor, is the author of Invest Like a Shark: How a Deaf Guy With No Job and Limited Capital Made a Fortune Investing in the Stock Market. He operates sharkinvesting.com, an interactive online community that serves and educates active investors.
By any definition we are in an uptrend, but the character of a market can shift.
A retest of the recent lows in the major indices after their recent big run likely won't happen any time soon, but there could be a substantial drop before support occurs.
It would appease some bears, allow some profit-taking and help to make sure there is some good support.
Market players are now focused on what can go right rather than what can go wrong.
It is far safer to arrive fashionably late at the party rather than to show up too early.
Mediocre earnings results, the government shutdown, the uncertainly over China trade and the Brexit mess are having no impact on traders.
Sometimes the market intentionally does what is clearly illogical.
I continue to have a very difficult time finding individual stocks that I want to buy at this juncture.
The indices finished in the red on Monday, breadth was poor with about 2,300 gainers to 4,900 decliners and stocks closed on a weak note.
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