Grow up. You sound like a 14 year old mad at the mirror 'cause he just got his first pimples. Sheesh. Anyway, I see you've reached the anger stage of grief. Let me know when you've reached the bargaining stage, since market-wise, that's as far as it gets. It represents capitulation. At that point, I'll know it's time to sell.
Thats the other problem with the markets and the economy, is that every single time there is a threat of a recession they try everything possible to keep the economy running on all cylinders without any stress on the system. They have done it time and time again, they NEVER let the free market do its own thing, there is always intervention no matter what the situation. Everyone "thinks" we avoided a depression, thats the mentality of everyone who witnessed the credit crisis and where we are today as the economy all of the sudden shows growth of approx 2-3%. Every time there has been a set back in this economy they have done everything imaginable to create growth whether its reduce the rates to zero percent, hand out thousands of dollars worth of tax credits, create programs to help unemployed stay in a house they can no longer afford. This is not the way the economy works, the economy has to go through cycles but never does because of the intervention involved. Bubble ben bernanke is fucking up the economy right now, everyone says he helped avoid a second great depression but what many fail to realize is that his ways are only prolonging the day to something greater than just a great depression.
One way or another the level of debt is going to come down. either through hyperinflation or through more controlled cutting of spending and bankruptcy. I choose number 2
In other words, we are in a trading range and you have nothing to back your delusions of permabull grandeur...so you go the red herring route.
Never been a permabull. However, I know a bull when I see one (what are you gonna do, wait 'til it doubles the 666 low?) and I also know a breakout when I see one, and these last two weeks and now today have all followed the classic pattern. The fact it's meeting with so much and such obviously strongly felt resentment means it's for real. Of course, the market internals also scream it's for real, too. Like anyone, I could be wrong, but at least I have a reason for what I'm saying that goes beyond politics or, even more pathetically, economics.
Guys, we've got an election in less than 60 days. Anybody short stocks (or with any position that will profit on stock/economic weakness) better beware. In the last 10 days ... - we've seen a ISM report that surprised to the upside, but bore no resemblance to the regional reports that had been issued in the weeks leading up to it. - we've seen a stronger than expected NFP number - we've seen improved jobless claims (only to later learn that several states hadn't reported, so the number was "estimated" - we've seen one of BO's bigger pimps (Buffet) give a speech in which he pronouned the economy to be just fine There's 2 minutes left and the home team is down 2 scores. The big guns are coming out. Beware.