The thing is, there’s no such thing as “oversold” in a bear market. OK, maybe there is, but it’s at a much lower parameter than that which applied during the 13 year bubble.
Therefore we should not expect the market to turn up from extremes similar to those of the past 12 years. And we should not expect the rebounds to be sustained. They’ll correct the extreme, and then the downtrend to new lows will resume. So, what I wrote previously, recapped below, still applies. Stock prices still look oversold, even more so than in late May when I last updated the CLI.
But the bottom line remains the same. Here’s what it is. Here’s why. And here’s what you might consider doing about it if you want to profit from what lies ahead.
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