Overall performance on Wall Street has been down on most days in the last two weeks, and a group of investors believe that will continue to be the case.
The American Association of Individual Investors reported its lowest number of members who believe the market will continue to be bullish.
However, local financial advisor Howie Pentony says don’t put too much into that.
“They know, and this is funny, they are never right. [AAII] are contrarian investment people,” Pentony said. “If they bullish, you want to be selling. If they are bearish you want to be buying.”
Pentony says nothing is a guarantee in the market, it’s just the AAII’s historical trend.
“So they’re not feeling good about the market at all. Now, you’re not guaranteed this is going to work, but this means most of the time is that you should be looking for the stock market to go up,” Pentony said. “It should be fun to watch.”
Howie Pentony is the President of Pentony Capital Management in Portersville.
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