Dude 12830 isnt gonna happen The buying is huge at these levels. The bad news regarding subprimes and lending and such seems to be wanning and the ipmact of any new stories is lessened.
dude u r worst then kudlow... i know u must be buying puts and shorting some stock... nobody wants to lose their money....
I agree with stock...There is no sub prime, liquidity, or credit crisis. I heard about 2 obscure companies, Fannie and Freddie, were having some small "issues", but they must not be "smarties". Now excuse me, I have to justify what a smartie I am, which means max out my credit cards, because that what a type 1 civilization person does!
I don't short the market unless there is a COMPELLING reason to so. Since I began 'trading' in 2003 there hasn't been one. Once the rate cut cycle in the US pauses and the global markets enter a 'blowoff top' combined with rising overseas interest rates then there may be good shorting opportunities. This market HATES inflation and rate hikes. The Summer 2006 selloff was triggered by inflation and rate hike fears. It wasn't until the fed stopped raising rates that the markets recovered, but it could have been much worse. In summer 2006 the emerging markets got hit HARD. 30% declines all over due to inflation and rate hike fears. Also note how in May 2006 the 10 year was high which is considered to be inflationary. http://finance.yahoo.com/q/bc?s=^TNX&t=2y The smaller june 2007 selloff was caused by a surging 10 year note, and more inflation issues. The dow dipped 3.5% in that period. The key is inflation. It slows down growth and makes everyone irritable.
Over 70% of all stocks are now at 52 week lows. If that isn't a bear market, then I don't know what is.