the market can remain ridiculous longer than you can remain solvent. earnings is the 17th not ridiculous for much longer
The same is happening on the upside as it did on the downside, everyone is buying on anticipation of missing out on more upside, just like people sold out of BAC below $5. NOTHING HAS CHANGED in the last few weeks to see the financials up over 100%. The economy is still falling off a cliff, just take a walk or drive to your local mall, businesses are closing left and right, commercial real estate is the next to go, this will have a huge negative impact on the economy going forward over the next 18 months. You will be able to buy all the BAC you want below $6 AGAIN!!!!!