The stock market is on fire in 2018. In just 13 trading sessions, the S&P 500, Dow and Nasdaq have rallied.
So what's with the melancholy attitude, Wall Street?
I know that a market correction is coming, as it always does. But turning bearish on stocks now would be misguided. To willingly miss out on the gains that are yet to be made in stocks this year would be among the dumbest things on Wall Street.
There's no sugar coating it: the stock market will, at some point, endure a correction. But timing is what needs to take focus here. Some of the best and most respected analysts on the Street have said stocks will continue to rally in 2018.
Just this week, BofA Merrill Lynch put out a note citing a 133% annualized return on the S&P 500 so far in January.
So why back out now? Stay and play a while -- there's still plenty of money to be made.
Earnings are strong and growing, especially on the enormous benefits from tax reform. And according to one source I spoke with, the market hasn't even fully priced in those tax-related benefits yet.
Momentum is as strong as ever. This bull market continues to show that age isn't slowing it down.
And to those bears who say stock growth will slow this year, you could be right. 2017 will be hard to beat, and I can't argue with that. But even for Goldman Sachs analysts who said the S&P might only gain 13% in the next couple years, I say this: You'll still have 13% more money than you started with.
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