Wait For a Stock Market Correction Before You Buy and Ignore the Hype - Mike Swanson (10/28/2016)

In this interview with Jim Goddard who hosts This Week In Money of www.howestreet.com I gave him my overview of the financial markets right now.

We talked the other week about how Warren Buffett has built up what is a record $75 billion cash position for himself.

He is not trying to chase fad stocks that they talk about on CNBC or getting himself fully invested in the stock market right now.

The stock market is dead and simply floating around lulling people asleep.

In reality the best way to buy stocks is to buy AFTER they drop and not to chase rallies and hype.

The market is likely to fall more before this year is over as the S&P 500 is just bouncing off of its recent 2120 support level getting into a position to go through it.

So I think people should be patient right now before they buy.

And they should look at gold stocks and junior mining stocks as they started a new bull market this year and are dipping already.

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