Greg Guenthner

I was in Orlando in late January at a market technician’s meeting. One of the presenters opened up the floor to questions. That’s when an older guy busted out that gem.

And he was dead serious.

The collective response in the room was “what is this nut thinking?”

The S&P posted gains of more than 13% in 2012. Stocks were outperforming and this crank was complaining about an uncooperative market.

He’s got it all wrong. So do you…

It took me a while–but I finally compiled your responses to my big investing question: What are you doing with your money right now?

I expected to hear from a few nervous investors. But as it turns out, you’re much more fearful that I originally thought.

You don’t want any part of this market. And if you do own stocks, you’re looking for reasons to get out. Despite the market’s strong performance, you don’t believe there’s any money to be made…

Waiting and waiting for that “perfect moment” will have you buying shares at or near the market’s peak. A healthy bull market needs to climb a wall of worry. You have it backwards. You’re waiting for the worry to disappear. The only problem is that usually marks the top…

It’s clear you do not want to buy right now. And if you do have skin in the game, you told me your finger’s not far from the trigger. Famed technician Walter Deemer says it best: When the time comes to buy, you won’t want to.

You need to heed this advice. It’s easy to say, yet hard to put into practice. But don’t let that stop you from missing something big. If you don’t, you’ll end up burned like most investors: sold out when the market’s ready to run, and buying right when the rug’s about to get yanked out…

Greg Guenthner
for The Daily Reckoning

Greg Guenthner

Greg Guenthner, CMT, is the managing editor of The Rude Awakening. Greg is a member of the Market Technicians Association and holds the Chartered Market Technician designation.

Recent Articles

Biking the Tube

Stephen Petranek

Every city in the world seems to be jealous of New York’s marvelous High Line, an ancient abandoned elevated rail line that has been converted into a park. Now cities everywhere are looking at their abandoned transportation lines to see how they can be reused.


Biotech’s Busted — Here’s What To Do Now…

Greg Guenthner

Biotechs blasted lower all week. Semiconductors hit the mat. And the once high-flying Nasdaq lost more than 3% as of yesterday—topping off its worst run since last April. Greg Guenthner looks at the latest market sell-off and questions the mainstream explanation behind it.


How to Make Money from Stupid Cat Videos

Greg Guenthner

As the business publication Quartz reports, "Cisco projects video to represent 71% of all mobile data traffic by 2019, up from about 55% last year, and representing the bulk of mobile traffic growth."