A correction in the market is "inevitable" and there are three key factors that could spark chaos on Wall Street, according to James Advantage Fund president Barry James.
"Even though the market looks beautiful—setting new highs, good momentum, and earnings have been coming in strong, there are things to worry about," explained the portfolio manager.
But the biggest threat to the market rally, according to James, is the current valuation levels of stocks.
"It doesn't mean that we'll see a volcanic eruption in the immediate future, and these market peaks take a long time, but we're definitely in the latter stages of this market advance," he said. "We're going to see the inevitable correction, I just wish I could say I knew when."
Source: Bloomberg
Trader Bozhidar Arabadzhiev
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