Holy cow. Even James Altucher is bullish on stocks
Now is the time to buy. When there is blood in the streets. I follow about 30 stocks on my screen. They are all red. Statistically, when 10 stocks are down for every one up, the market tends to be higher one week later. Here’s more facts to ponder:
– The debt ceiling crisis has passed.
– 75% of companies beat earnings estimates.
– Household debt obligations (rent, credit card bills, car payments, etc., divided by income) are at lows since 1992.
– Manufacturing and service sectors are still expanding.
– GDP growth is still expanding. . . .
And so on. . . .Little of this can be argued with, by the way. His complaints about the cluelessness of the media also gratifying. . . .