The S&P 500 stood at 1,109 last Friday, 9/10/10.
The S&P 500 was also at 1,109 back on 4/1/88, over 12 years ago.
That is 12 years of nothing and the majority of talking heads believed/believe we were/are in a new bull market.
The S&P 500 was also at 1,109 back on 11/16/09, 10 months ago.
That is 10 months of nothing and the the majority of talking heads believed/believe we were/are in a new bull market.
Over this 10-month period, the S&P 500 has see-sawed above and below the 1,100 mark 15 times. Can you say roller coaster!
At what level would I be more bullish? Approximately 20% below 1,109 is a level I would consider to offer compelling value.
“It is impossible to produce a superior return unless you do something different from the majority.”
Source: Legendary value investor, Sir John Templeton