“February 9 brought two more published pronouncements. The CEO of a wealth management firm declared this is not the start of a new bear market; the CIO of a bank advised clients to stay fully invested in stocks. “Buying Opportunity” could be the two most financially dangerous words an investor could hear right now. The bear market rally has emboldened financial advisors, who later on may wish they had a better understanding of how bear market rallies work — like the numerous such rallies in the years1929-1932. I wonder how many stockbrokers were telling clients of a “buying opportunity” shortly after the top of wave b in early 1930?
As you can see, those who bought “the dips” as wave c developed lost their shirts. So the next time you hear a so-called expert start to lay those two words on you, start reading instead.”
Source – http://www.elliottwave.com/freeupdates/archives/2010/02/18/Two-Financially-Dangerous-Words.aspx
