We will have to wait for the big traders to come back from their summer vacations in September. Big moves usually happen in the Sept/oct months. Stock market is reflecting a strong recovery in the economy but I am not seeing that. Restaurants are not as packed, roads are not as busy, people are still worried about their jobs, companies are watching every cost ..... this does not reflect what the stock market is saying - everything is back to normal again.
My current portfolio is 75% cash, only a handful of stocks left. Going to wait for the correction, hoping that the market corrects back to TSX 9000. If it does not happen this year, I will just trade a little without taking significant positions. I am taking my chances that the market can go up another 10-20% on further optimism, but based on fundamentals and outlook, this recovery will be slow and there will be more down bumps along the way. I am lucky to make some good coin on this crash, but I am going to take the profits and wait and not risk it.
Let's see whether my prediction comes true.
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