We’re only in the middle of June, but with a little forward vision (and a little knowledge of history), it’s not too early to start thinking about some opportunities Mr. Market might hand us next month. To my eye, it looks as if a “July classic” could be shaping up. The stock market has often made a significant top in the second or third week of July, followed by a pullback into August and a test of the lows in late September or early October. A strong November-December rally then finishes off the year.
I know, from reader correspondence, that many people get anxious at even the smallest price declines. So I want you to be forewarned. Be prepared for volatility. Don’t panic. Ride out the squall, and you’ll be rewarded. But if the market is headed for a July “correction,” should you stop all buying immediately? No. For one thing, we can’t know, in advance, the depth of any pullback. Furthermore, we do know that a fair number of stocks are already attractively valued. It’s OK to nibble at some of these names now, with an eye to buying more next month, and even more in August through September.
Source: InvestorPlace
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