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World markets fell on Thursday because one Portuguese bank is having accounting troubles. I can understand why that may have spoiled the espresso for some European investors.
But why should it have ANY effect on the US market???
Meaning that if you roll back the clock a couple years to when Europe was at its darkest hour, their trouble had virtually no negative effect on the US economy. And that was based on several nations going into debt default. Not 1 bad bank.
Thus the stock pullback Thursday is rooted in a false fundamental premise...and thus there is no reason to dip now on this much, much smaller impetus. Which is why I used the opportunity to get back to 114% long thanks to some 3X ETF exposure.
That's because we will likely make it to 2000 before hitting 1900. In fact, 1900 may not be hit til the next bear market well off in the distance. So best to keep riding the bull higher.
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