Let the Selling Begin

Yes the stock market has begun to sell off from multi-year highs.

Yes the mainstream media has quickly turned bearish on everything from Europe to oil.

Yes the blowhards that were uber-bearish then turned bullish last month are back to being bearish again. Isn’t it amazing how they catch every bottom and top to the market. You would think if they were that good they would not spend all day on Twitter, but rather on their yacht?? Hmmmm

Back to the multi-year highs. If you believe that everyday would include new highs, then you are actually the one that is high! In this type of market we should all be happy that today was the first big down day all year. Last year a day like today was the norm and a weekly occurrence was not out of the question.

As long-term investors we must be realistic and honest with ourselves and understand there will be up days as well as down days. There will be bull markets and bear markets. And even more important to realize is that there will be big down days during a bull market. This is not rocket science, but as humans it is difficult to separate our emotions from reality when it comes to money and the stock market.

I will keep tonight’s Market Recap short and sweet. After today’s selling I believe there could be more in the days ahead. However, I also feel a new buying opportunity will be upon us very soon and that investors must begin building their WishList of stocks and ETFs.