The answer is clearly yes, clearly. 2007 will be exactly like 1987, they even both finish with 7! I predict the crash sometimes in October. Wyck, that chart is for 2005?
I'm usually bearish but in this day and age of markets, I don't see a crash like that happening again. The FED will pull every trick under their sleeve to prevent a major collapse. It will take a major unforeseen geo-political event, natural disaster, or terrorist attack of epic proportions to really send markets down hard. In the mean time, embrace the volatility and profit in both directions.
And politically the Republican admin doesn't want a stock market crash disaster as they approach the 2008 presidential elections. Has anyone considered that certain government entities may be 'adjusting' numbers to make it appear the economy is in much better condition that it truly is? Why are foreclosures up 93%? Would seem to indicate a lot more people are out of jobs that the stats bear out... Or perhaps other problems that are not seeing the light of day.
You're correct, the "problems" are being sidelined for now. As for a continuation of upside, yes, I do believe we have more. This should be interesting, musical chairs and hot potato played simultaneously to the tune of Helter Skelter. A parlor game of 'snap dragon' in a mine field would be more befitting.
Absolutely, when the real numbers start coming out(not the padded ones now) going into the 2008 election and inflation, unemployment, more foreclosures, etc all take shape...it will be a great tool for them. For now, milk out what upside is left with rate cut news and what not. If a quick series of cuts happen for whatever stupid reason, it will be a huge mistake to the economy in the long run. By next year it will be rumors of rate hikes to salvage the US dollar before it continues down into the death spiral.