Paul Price suggests that the recent selling stampede is likely over. Here's his thinking.
Is the 3-Day Market Surge the Start of Something Big?
Courtesy of Paul Price at Guru Focus
The Dow Jones Industrial Average rose about 1,000 points from last week’s low.
The rally also marked the first consecutive three-day, greater than 1% daily moves in the Standard & Poor's 500 ETF (SPY) since October, 2011.
Is this stunning reversal of the past year’s decline to be believed?
Could it simply be attributable to short covering? Before dismissing the move as unmeaningful, why not go back and look at what took place since August of 2011?
Investors who bought right after the turn in 2011 were well rewarded.
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