The conventional wisdom I’m hearing is that the Alibaba (NYSE:BABA) IPO signaled a top. Something about market exuberance. Or valuation. Or some such story the bears are always clinging to.
Now, I will admit the past week was rough at times, but all that really happened is that the market dropped back to September lows before bouncing. I’m neither perma-bear, nor bull, but I don’t think the end of the market is here yet.
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I was bullish on Apple (NASDAQ:AAPL) a few weeks ago, and I guess if you were nimble you could have grabbed it for a 5% gain. That might have been too clever, though, so if you waited, good for you. I’d avoid it for now.
Coca-Cola (NYSE:KO) has been topsy-turvy, but it’s coming back. A close over current resistance will mark a good buying opportunity.
Back next week to celebrate – egads! – the beginning of October.