- Since this uptrend began in March, the Nasdaq's declines haven't exceeded 8%.
- The key now will be to watch for additional distribution days and any sign of change in the recent pattern of 4% to 8% dips.
Longer term, I have no conviction in this rally, but for now, I believe this to still be a bull market, until proven otherwise. Driven by liquidity, and the market's need to further humiliate the bears. One caveat: sometimes no catalyst is needed for a bear market to start.
Looking for ways to go long... to buy without risking too much. I am buying counters that are oversold or close to support levels. That way, if the market turns bearish, or into a trading market, its easier to take the loss. If the market goes up.. the upside will take care of itself.
No FA - nothing cheap enough for long term investment.