Well, the market had a little knock on the head last Friday and Monday, and while it was mild as these things go, it was the fist of its kind in some time. In retrospect, it is fun to wonder how much higher the market would have risen in anticipation of a tax cut; now that it’s actually had one, it needs to deal with present realities, be they good or bad.
From a fundamental perspective, stock prices are at the highest end of the normal range. Typically, when a market vents, it falls a bit further than that. The only time things have been different is in the 1998-1999 period when prices completely de-coupled from underlying values. Assuming that we don’t head into a situation like that, the market will almost certainly face another wave or two of selling before we are all in the clear. And as that isn’t a particularly safe assumption, it’s worth pointing out that some stocks will have peaked and begun falling already. I nominate those on today’s list.
Remember to treat these ideas as just that, ideas, and do your own research before making any investment decision.