I had never seen so may people talking correction-or worse-on every 1% decline. And then the "Sell in May"chatter...
Good grief, they knew how to do it 125 years ago.
"I can distribute more stock on upticks than I can on down"
-E.H. Harriman, railroad man and Wall Street pro.
From Bloomberg:-E.H. Harriman, railroad man and Wall Street pro.
Individuals Pile Into Stocks as Pros Say Bull Is Spent
Main Street and Wall Street are moving in opposite directions.Here's a gift from Investors Business Daily:
Individual investors are plowing money back into the U.S. stock market just as professional strategists say gains for this year are over. About $100 billion has been added to equity mutual funds and exchange-traded funds in the past year, 10 times more than the previous 12 months, according to data compiled by Bloomberg and the Investment Company Institute.
The growing optimism contrasts with forecasters from UBS AG to HSBC Holdings Plc, who say the stock market will be stagnant with valuations at a four-year high. While the strategists have a mixed record of being right, history shows the bull market has already lasted longer than average and individuals tend to pile in at the end of the rally....MORE
