Is The Market Set For a Comeback?

I just finished reading several articles on CNBC.com, one of my favorite financial sites. I found several points of interest regarding the economy and the markets current status and where we may be headed for the rest of the year. It seems several experts are now thinking that the stock market may have reached a bottom and is set to make a slow but steady comeback for the rest of this year. There was also an interesting article regarding commodities prices, where they talked about a possible burst of the bubble in agricultural products and a possible decline in oil and gold prices as well. I tend to agree with their assessments. As early as January 4th of this year I wrote about the run up in oil prices and how I didn't think they were sustainable. I don't think we'll see extreme price drops, but I do think there is room for a significant correction in oil as well as gold prices. If you check my blog entry on January 12th of this year, you'll note that I was talking about the drop in stock prices and how I thought it was a great opportunity to pick up some bargains and add to stock holdings, instead of getting caught up in the panic and selling stocks.

I still think we're in for a wild ride with the stock market, but I do believe that we are at or near the bottom. One thing I know for sure is that there are a lot of bargain priced stocks right now and I have continued to add to my personal portfolio while the prices are down. Personally I'm hoping for the market to stay near where it is, at least until next fall, so I can continue to buy stocks on the cheap. This whole downturn has allowed me to add to some of my current positions and to pick up some stocks that I have wanted to own, but considered too pricey in the past. So even though it's been a tumultuous time for me, just like everyone else, the brighter side has been that I've been able to increase my holdings substantially, which wouldn't have been possible at the higher prices before the market downturn.

Our economy is facing some extremely turbulent times, but if you're like me and you believe that it will all work out in the end, I definitely think it's time to be getting set for a market comeback. Like the saying goes, "You have to be in it, to win it."