I’ve been pretty bearish (and wrong – or early depending on your time frame) in these pages for a few months now. This week the stock market marks it’s 5-year bull market anniversary and what an impressive run its been. Five years ago I was rip-snorting bullish (and also wrong – or early – for a few months):
[blockquote2]To quote Charles Dickens, we are currently facing “the worst of times.” By any measure, this is the worst economy America has witnessed in decades. However, for prudent investors in both stocks and real estate, “it is the best of times,” as we are now faced with a once-in-a-lifetime opportunity. -Fortitude in the Face of Crisis, 3/12/09[/blockquote2]
[blockquote2]All three time frames [daily, weekly and monthly] are now aligned with [DeMark] Buy Signals. -TD Indicators: Another Tool for the Trader’s Toolbox, 3/10/09[/blockquote2]
[blockquote2]All in all, there are many signs that the indexes are close to forming a major market bottom. -A Bird’s Eye View of the Bull and the Bear, 3/6/09[/blockquote2]
[blockquote2]Stocks haven’t been this cheap in over 20 years. -Cheapest Stock Market in Decades, Part Deux, 3/4/09[/blockquote2]
Reading back through this stuff I can’t help but feel like I’ve stepped through the looking glass into exactly the opposite situation, as all of these signs have now reversed making this one of the worst times to buy stocks in decades.