Insights & Advice

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Are you still bullish?

by Bill Schmick

Dear Bill,

The last time we spoke was in March and I had just gotten back into the market after a six month stint on the sidelines. At that time, you were looking for S&P to hit 1450 level into the summer.In the first week of April I had a little over a 9% gain.Since then I have given back most of my gains and as I write this am up about 3%.I follow your column weekly and see you are still bullish.Do you still see the S&P reaching your target?I am starting to get just a bit nervous.

Dear Kevin,

Yes, I’m still bullish. As a regular reader, you know that I have expected this latest pullback to bottom in the 1,300-1,325 range on the S&P 500 Index. Today we are at 1,315, so we may have a bit more to go. We could also overshoot that number by 20-30 points (i.e. 1,275-1,280). I wish I could be more accurate but unfortunately forecasting market levels is an art not a science.

Fundamentally, I am not a member of the doom and gloom club.  By the way, I do commiserate with your feelings of nervousness. No one, including myself, is immune from feeling that way when markets decline. I guess that is the price of being invested in the stock market.

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Posted in A Few Dollars More, Q & A with Bill
Bill Schmick

Bill Schmick

Bill Schmick is registered as an investment advisor representative of Onota Partners, Inc., in the Berkshires. Bill’s forecasts and opinions are purely his own and do not necessarily represent the views of Onota Partners, Inc. (OPI). None of his commentary is or should be considered investment advice. Anyone seeking individualized investment advice should contact a qualified investment adviser. None of the information presented in this article is intended to be and should not be construed as an endorsement of OPI, Inc. or a solicitation to become a client of OPI. The reader should not assume that any strategies, or specific investments discussed are employed, bought, sold or held by OPI. Direct your inquiries to Bill at 1-413-347-2401 or e-mail him at [email protected]

Bill is not affiliated with or supervised by BMM. His opinions do not necessarily reflect those of BMM or its employees. Investments in securities are not insured, protected or guaranteed and may result in loss of income and/or principal. This communication may include opinions and forward-looking statements, and we can give no assurance that such beliefs and expectations will prove to be correct.

Investments in securities are not insured, protected or guaranteed and may result in loss of income and/or principal. This communication may include opinions and forward-looking statements, and we can give no assurance that such beliefs and expectations will prove to be correct.

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