larry (kudlow), abby (cohen) and other bulls, no need to panic. Please step in and buy these dips, and hold for 10 years.. Fundamentals look great. forward 1 yr P/E ratio 14, 5 yr forward P/E ~10, 10yr forward P/E only 7.. End of rate hikes just around the corner. no inflation in sight (exclude food, water, energy, housing, grocery, education, socks and pills), inflation appears well contained ~0.1% q/q. fed's unofficial forecast: Dow 12000 by year end, and on target to 36000 by 2016..
Overall I agree with Pabst (usually do). But when everyone is so bearish (my contacts anyway), there tends to be lots of one day pops where the shorts get squeezed. Anything at all positive about the Lebanon thing will crush crude/ gold in the short term, and provide a few of these days. I will be looking at this close, but on balance prolly short in the mean time. Just my 2 cents, Jay
Not exactly. To make $ in the market, timing is everything. You made your call last friday. In the past week, the s&p made a low around 1225, and then surged to over 1260. That would shake alot of weak hands out who thought crash. Don't tell me you shorted and held thru that? Pabst and I make our calls on 7/21. I doubt the s&p will surge 35 pts next week before falling. Timing is everything.
This is Pabst thread, so it's not for me to post alot. I will say (again) that I found and came to ET to aggressively defend a friend from a slimy backstabbing slug who was posting jealous lies w/ respect to my buddy. And for whatever reason, I kinda kept that aggressive personality thru today. So I kind of like playing the wrestling villian. But this is not my true personality. I'm really a humble, decent dude.
Great observation, you caught him in a fruedian slip as he thought back to his days as the Rubberbird.
Things have been and are very good really .. but the 'feel good' factor has always been slightly soured by the fine mist of sh*t clouding the whole world stage stemming from the whole Iraq/Iran quagmire and the never ending extremist Muslim & terrorist overlay which reaches almost everywhere. Best to just get on with things.
Yeah, and Charlie Manson said, "I'm really a good soul. I have people's best interest at heart." He forgot to mention that the "heart" was the one he was holding in his hand, of his last victim. dd