Everyone is looking at fresh highs again on all markets, in late February the markets could do no wrong, feb 27th comes around and there is a huge wake up call, fast forward 6 weeks later and that correction is totally forgotten. Buying up here is difficult, but with margin debt at record highs it looks like everyone is buying in at the top due to the fact that there is more risk being out of the market than being in it.
The margin debt issue is a real issue. People are buying at nosebleed levels here - they are afraid to miss out on gains, however unlikely they may be, because our federal reserve isn't protecting the U.S. Dollar (it's attacking it, in fact), and so people are freaking out about inflation. This is why inflation is bad for equity markets. It causes people to act irrationally, and hastily, rather than patiently and wisely. The federal reserve should be disbanded.
This is EqtTrdr... he says 100% up room to go Harden the fuck up EqtTrdr! http://www.youtube.com/watch?v=1EY7lYRneHc
ByLo: You forgot to take your medication again didn't you? What happened to the happy go lucky bull? Sometimes I think I don't even really know you. LOL! You're alright, bro! Just playin' with you. Keep on trading!
Dude, I went into the closet to change my mind this morning. But seriously....***cough**** ....I think the U.S. is slowing way too much here for the market averages to do well short term. We have had a massive run, and I do think that mortgage/housing/consumer/inflation issues are a massive headwind. But wtf do I know...maybe I'll watch something about the tribes in the Amazon Rain Forest in HD on the Discovery Channel tomorrow and get bullish (those people need broadband, damnit!!!)
INTRADAY HIGHS. Im am amazed by this market. It has come down to it that there is just no RISK in this market.