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With valuations overstretched as they are, one more improvement on the exact same scale as what we saw in March this year is coming to be an increasing number of feasible, said Lyn Alden, founder of Lyn Alden Investment Approach.
" I believe there's a climbing likelihood for [a correction] So, we have actually had a really strong rally from the March base. Starting around June, I began to get even more defensive since we had some overbought indications. We saw sort of a partial debt consolidation in improvement there. Numerous worth stocks still have not made it up past that June top," Alden told Kitco News in an interview on September 2.
Alden's comments come as the S&P 500 fell greater than 1.5% as well as the NASDAQ rolled 2% on Tuesday.
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Markets could tank to March lows again in worst case scenario – Lyn Alden
With valuations overstretched as they are, another correction on the same scale as what we saw in March this year is becoming more and more possible, said Lyn Alden, founder of Lyn Alden Investment Strategy.
“I think there’s a rising probability for [a correction]. So, we’ve had a really strong rally from the March bottom. Starting around June, I began to get more defensive because we had some overbought indicators. We saw kind of a partial consolidation in correction there. Many value stocks still haven’t made it up past that June peak,” Alden told Kitco News in an interview on September 2.
Alden’s comments come as the S&P 500 fell more than 1.5% and the NASDAQ tumbled 2% on Tuesday.
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