Today's word: Hypselotimophobia
It means the fear of high prices. And if you've got it, this market has you quaking in your boots.
The market has been inundated by 52-week highs lately, and that doesn't exactly have investors jumping for joy.
Only two types of investors are taking all these 52-week highs well: the nimble and the desperate, writes Joshua Brown of the Reformed Broker.
Nimble investors can respond quickly to market changes, and are constantly monitoring the currents to figure out what to do next. The desperate, Brown writes, are probably professional runners of money who are pressured to make plays in the market.
"Most market participants are not incredibly nimble nor are they under career pressure to buy at any price," Brown writes. "The drumbeat of daily new highs can be more frustrating than fun for them."
Has investing been fun at all lately? The market is so schizophrenic and topsy-turvy, throwing any semblance of strategy or planning to the wind.
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