Don’t buy the dips!

Many market pundits are already crying – buy the dip!  Don’t let them fool you into losing money.  We have only corrected a few percentage points from the highs, and there is plenty of more downside possible (and likely).  Stocks are not a buy just because the were higher before.  They are only a buy if the fundamentals make sense and if the overall market is attractive.  Neither of these two necessary conditions exist to support a purchase decision.  Save your cash for better opportunities to come in the near future.

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