This rally should be sold, anyone believing the talking fools of how the economy is turning around and everything is looking bright again should think twice before jumping back into the market. The market jumps 20% and everyone thinks the worst is over. See everyone back here when the DOW and S$P are showing 7 handles. The bear market is still here and any recovery is years away, as I said many times over, this is going to be a sideways market for anther decade or more. You can try and convince yourself that the economy will thrive again, however you cannot drive an economy with the printing press. This is just going to create another false, fantasy like economy.
IMHO, Cramer has an agenda, along with everyone else on cnbc - so their opinions are basically useless. It seems to me like Ratigan was fired in part because he DIDN'T have one, or at least if he did, it wasn't in line with the network's. Anyone who would sacrifice his job to speak what he thought was the truth, I think warrants a little more attention.
Nicely said... i will second that... http://www.ritholtz.com/blog/2009/03/dylan-ratigan-rants-about-bailouts-risk/
When??? When S&P 500 is at 850? Maybe 900? Maybe 1000? Maybe 1200? Most traders don't fight a strong trend and call for reversals. Yes the fundamentals are horrible but maybe the mkt being down as much as 50% in one year was an exaggeration.
IMHO it is same same as the 1930's when everyone thought it was over when the reversal hit 40% and then the market went down until 10%. IMHO this is not the normal correction, this time (just like in the 30's) it will need a change of attitude of Joe Public. In any case just watch out in 3rd quarter of this year by which time the Fed will start to run out of options and the honeymoon with the new administration is over and Joe Public starts realising that this is not the 9 month's "normal" correction. if the market starts to head down in 3rd Q do not think it will just be a short while before going up again - you may well loose your shirt. Maria
Any of you read Atilla at www.xtrends.blogspot.com? has had some good calls but I think he's going to get fried in the rally to 800