My message to market followers and investors: 18 of 18 S&P-listed companies that have reported so far have guided lower. I expect this trend to continue as corporate profits/earnings are difficult to gauge and estimate.
This is the core of my cautious market view. S&P profit forecasts are too high.
Same for economic global growth. Coupled with the troubling profit forecast and shaky economic numbers, the volatility in the movement of stocks over the past month is difficult to navigate and recognize trends...which is why I feel the most prudent investment approach is to err on the side of caution and buy the dips and sell the rips and focus on short term moves (unless someone uses the massive selloffs as we are seeing today to add to "core" mutual fund holdings)....I would still continue to stay away from European focused mutual funds as the outlook is murky at best....
