The news you had to know was coming just came. The central bank of the United Arab Emirates just announced that it was going to bail out Dubia World.
If you were paying any attention to the stock market last week then you know that the announcment by Dubia World, a state owned holding company with $59 billion in debt that it was looking for creditors to give it a six month free window on paying interest sent shock waves through the world markets and brought bears out everywhere.
Many people saw it as the start of a huge correction. Some CNBC talking heads were calling for a collapse.
But I actually think there is nothing to fear and we should use the Friday morning weakness to increase long positions.
What the bears are missing is that tops don't happen in an instant or on one news event. They are a process that takes time to unfold. And many of the things needed to be able to say we are at a stock market top simply aren't there yet.
Until they come you have to go with the trend of the market - which is up. And will probably accelerate to the upside from now until the end of the year.
Ignore the doubters! Don't get shaken out because of some worry wart on CNBC.
Dave Skarica of Addicted To Profits wrote a great report showing you the things to look for in order to spot a market top. In his report he even goes over the past major tops in the stock market so you can use them as a road map for right now. I recommend you read it by clicking here.
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