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On Saturday around noon, I plopped onto the couch with my dogs and grabbed the clicker to flip through the endless channels.
Eventually, I wound up on a just-started airing of "Ghostbusters," my least favorite Bill Murray movie. (And now many of you are mad at me. For what it's worth, "Caddyshack" is my favorite.)
In an odd bit of cosmic fate, a quote from the movie described exactly what I want to see from the market before I'm ready to buy bullish positions by the armfuls again.
First, let me make this known: I don't like winter. It's cold outside in Cincinnati, and my Saturday mornings and afternoons are suddenly vacant as college football takes a break between the regular season and bowl season.
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Of course, the annual Army-Navy Game was played this past Saturday. However, that was just one lonely football game floating in the space previously occupied by dozens of games, totaling nearly one hundred hours of football. But I digress...
This turn of events led me to re-watching "Ghostbusters" until said Army-Navy game started. Toward the end of the movie, the ghost-fighting team is in City Hall, trying to explain to the mayor that the city is headed toward disaster: fire and brimstone, forty years of darkness, the dead rising, et cetera.
Finishing off the colorful language to describe the peril, Peter Venkman (Murray) says, "... human sacrifice, dogs and cats living together, mass hysteria!"
And that's exactly what the market needs right now.
"Wait, wait, wait, CJ, you can't mean that seriously, right?"
But I do, and here's why...
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About the Author
Chris Johnson is a highly regarded equity and options analyst who has spent much of his nearly 30-year market career designing and interpreting complex models to help investment firms transform millions of data points into impressive gains for clients.
At heart Chris is a quant - like the "rocket scientists" of investing - with a specialty in applying advanced mathematics like stochastic calculus, linear algebra, differential equations, and statistics to Wall Street's data-rich environment.
He began building his proprietary models in 1998, analyzing about 2,000 records per day. Today, that database, which Chris designed and coded from scratch, analyzes a staggering 700,000 records per day. It's the secret behind his track record.
Chris holds degrees in finance, statistics, and accounting. He worked as a licensed broker for 11 years before taking on the role of Director of Quantitative Analysis at a big-name equity and options research firm for eight years. He recently served as Director of Research of a Cleveland-based investment firm responsible for hundreds of millions in AUM. He is also the Founder/CIO of ETF Advisory Research Partners since 2007, noted for its groundbreaking work in Behavioral Valuation systems. Their research is widely read by leaders in the RIA business.
Chris is ranked in the top 99.3% of financial bloggers and top 98.6% of overall experts by TipRanks, the track record registry of financial analysts dating back to January 2009.
He is a frequent commentator on financial markets for CNBC, Fox, Bloomberg TV, and CBS Radio and has been featured in Barron's, USA Today, Newsweek, and The Wall Street Journal, and numerous books.
Today, Chris is the editor of Night Trader and Penny Hawk. He also contributes to Money Morning as the Quant Analysis Specialist.