that's nice companies are sitting on lots of stimulis cash because with the depression that's coming they will be burning thru it . remember who's going to buy the products now ? maybe martians ? bp
Did you miss the part where I also said they have record breaking earnings? I should have known better then to post an intelligent comment on these forums. My fault I will leave it to back to you guys now.
They were strapped for cash because they couldn't raise capital. That may well lie directly ahead of us. Time will tell.
It matters what underlies those earnings. If it derives from stimulus, then it's not all that real and can vanish extremely quickly.
I tried this morning and paid for it. Not too bad, but it didn't feel good. Yes companies have cash and are making money. But.... this is not about earnings, this is financial. Liquidation. It is miss priced but if they have to liquidate they have to do it, and their pockets are deeper, and this market will continue to sell. So tread lightly, until they are done. This is much better than 2008, so when the big money tries to get back, they are going to have to pay up, so it will be a great bounce. But when? Easy does it. Just because it won't be Americans doesn't mean they have to be martians. The US middle class guy is dead. No way he can afford or get credit for a Harley Davidson. Yet they blow out numbers.... wtf? Some of these companies are making more than ever, and sorry to say they don't care if we are doing the buying or not.
Agree however the upside of 100-150 SPX points HAS GOT to be SOLD once there, this market is sell the rallies and buy the massive dips. I think about 90% of the money managers and analysts think the SPX is going to close the year at 1400+ HAHAHAH!