New Yahoo Finance/CNBC Video Star Suggests This Is Buy Point Of Lifetime (08/27/2015)
Again, it’s true that nasty August market dumps – such as the one in the bear market of 2002, or the 1998 emerging-markets panic that resembles the current situation – stocks lifted only to fall back again in September and October before finally making a reliable bottom.
But then there’s August 1982, which was indeed the ultimate bottom of all ultimate bottoms, the end of a 15-year stagnation in stocks that launched the great generational bull market of the ‘80s and ‘90s.
But then, of course, no one was expecting or predicting such a thing back then. And there were fewer tweeting traders and financial-news outlets to trot out all the old clichés.
Santoli suggests to ignore all past market charts and focus on August 1982 - when the market made a major bottom. Do not look for a retest or be cautious. Just buy and believe.
Santoli has become the lead commentator on Yahoo Finance after Jeff Macke left and is now becoming a regular guest on CNBC where he always says the market is going to go up.
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