Should You Really Be Buying Stocks Right Now?
In July, analysts at Bank of America came out with a pretty somber forecast for the S&P 500 through the end of 2022. They revised their year-end target for the benchmark from 4,500 to 3,600 at the end of this year.
With the S&P 500 at 4,200 as of Aug. 25, that would mean it would drop another 14% by the end of the year, on top of the 12% it is already down. And the Nasdaq Composite is already in bear market territory, down about 20% year to date as of Aug. 25.
That's not to say Bank of America's forecast will be correct. The market could surge higher the rest of the year. But the uncertainty has caused many investors to sit on the sidelines and wait for the market to turn back north. It raises the question: Should you really be buying stocks right now? While it is prudent to be cautious, it is also smart to be opportunistic. Here's why.
Source Fool.com
