Given the loud noise coming from the media, it’s time, once again, to remind you not to be fooled by others, notes Bob Lang of

The stock market pundits and prognosticators are out in droves trying to draw everyone into this latest bull rally. A rally is not a bull market, and you must continue to tread lightly.

Bull Rallies in a Bear Market Are Spectacular

We are still in a bear market! And in a bear market, days of endless drops are interrupted by spectacular rallies. Unlike in a bull market, bull rallies in a bear market are often trapdoors. They don’t last.

Yet the media will make you feel like an idiot for sitting on the sidelines, where it’s safe. They’ll make you feel like you missed the rally of the century. You aren’t an idiot, and you didn’t miss anything.

I know it’s painful to feel like you’re being left behind. I also know that the more days that go by without a decent correction or pullback, the more likely you are to capitulate and jump into action. When you do, it’s probably too late. You will lose money trying to chase the rally.

But It's Not a Bull Market Yet

You still have to trade carefully. Tune out the noise, and pay attention to the market action. React to the action—don’t try to guess what is going to happen.

Putting your capital at risk at a critical time is simply a recipe for disaster. I know this all too well because I’ve been through it—more times than I care to remember. Don’t be snookered by someone who claims to have all the answers. The market will tell you when it is bull time, and that may not be far off.

But can you remain solvent and wait for that moment to come? Most can’t, and they end up losing a fortune. You can do it.

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