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Remember the axiom “buy the rumor, sell the news.” It refers to entering a trade before there is clear evidence supporting future gains and exiting that trade just as everyone hears the good news and decides to get in on the action. In the market this year , led by a narrow group of stocks with momentum and Artificial Intelligence (AI) exposure, the axiom seems to be “buy the rumor, buy the news, buy the dip, buy the rip because it is going to go even higher. It’s different this time.”
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