Amanda Drury, anchor for CNBC said she noticed from Mr. Springer’s notes that he expects a 10% bounce off the bottom, and then believes we are going to retest the lows.
“That’s typical, you always want to retest the lows because that’s healthy," comments Keith Springer, author of Facing Goliath: How to Triumph in the Dangerous Market Ahead, and president of Springer Financial Advisors based in Sacramento, CA. "The lows need to be retested on a lower volume and then shoot to new highs."
“We have to remember what moves stocks,” Mr. Springer continues. “It’s earnings that move stocks and we go through this every single quarter since the rally started 2 or 3 years ago. In between the quarters, the stocks go down because there is no good news; we are always getting bad news about the economy.”
“Then earnings come in and surprise to the upside, and push stocks higher.” We are going to see this again this quarter, Keith predicts
To view more print and TV media interviews with Keith, visit http://www.KeithSpringer.com, email Keith@KeithSpringer.com or call (916) 925-8900. For up-to-the-minute market updates visit his blog http://www.KeithSpringer.info. In addition to his work as an expert financial advisor, Keith provides customized mortgages and consulting for homeowners. This information can be found at http://www.KeithSpringerLoans.com.
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About Springer Financial Advisors: Keith Springer is author of Facing Goliath: How to Triumph in the Dangerous Market Ahead, a financial planner, a market technician, a financial writer, founder of Top Down Tactical™ and President and founder of Springer Financial Advisors in Sacramento CA, a SEC Registered Investment Advisor. He has developed a proprietary process for successfully building tax-efficient and retirement portfolios and has been providing specialty wealth management services for over 25 years.