By: Elliott Wave International
I was watching financial television as the Dow Industrials fell 400-plus points on Sept. 1.
Two market professionals were interviewed: Both said the big decline in recent weeks represented a buying opportunity.
Optimism is so entrenched that even the worst month (August) for the Dow in five years didn't faze them.
Other market observers have also shrugged off the volatility. Here are just a few headlines:
- 10 oversold stocks ready to pop (CNBC, August 26)
- Why I'm throwing money at the stock market (Marketwatch, August 26)
- Why this bull market is not dead (CNBC, August 25)
- Buy the Dip Becomes Buy the Correction ... (Bloomberg, August 25)
- Is Stock Market's 'Black Monday' Time to Buy? Some Analysts Think So (NBC News, August 25)
- Relax, we're about to hit the bottom in stocks (CNBC, August 21)
This is an amazing display of optimism. Yet there is an explanation for this persistent hope in higher stock prices, namely: Continue reading "Amid Stock Market Turmoil, Investors Cling to Hope. Why?"