I thought this little sharing from Joshua Brown of The Reform Broker makes a lot of sense. Most of the media discusses whether we are at the top or bottom. But really most of the time we are in the middle thinking about  tops and bottoms, worrying about whether we are at the top or have we reached the bottom:

Market-timers don’t live long, its a horrible existence.  My friend JC likes to say picking tops and bottoms is the most expensive job on Wall Street.

A lot of the media’s time and attention is spent discussing whether or not something is bottoming (housing, stocks, consumer confidence, ratings, etc) or topping (tech stocks, valuations, bond prices, sentiment).  It’s great conversation but not helpful.

Because most of the time things are not bottoming or topping.  They are middle-ing.  They are churning or they are trending.  Most …