You wrote "Why were you not telling us to get in over the summer?" My point is...he did! I agree its probably not brains, rather a bull market but that wasnt my arguement.
One of my favorite media phrases is "cautiously optimistic." It means nothing while it sounds important. Can you think of a situation where it wouldn't apply? (Apocalypse to Strike Earth, Experts Cautiously Optimistic). See! You can't go wrong. A few years ago, Neil Westergaard wrote: What a great all-purpose, meaningless qualifier to keep from looking stupid. It's much better than just saying "I don't know." It implies that that the person really does know something important, but is being conservative and careful in the distribution of information, holding back the unverifiable facts for the good of the republic. Or covering their behinds. "Cautiously optimistic." If the economy goes into the dumper again, we can say our earlier caution was warranted. If things pick up, we were right to be optimistic and "knew it all along." Posted by Eddie. PS I am not Eddie. NVM, the point being is I am Cautiosly optimistic on the trend higher tomorrow.
I think your chances of a gap up tomorrow are probably close to 100% ... but ... it doesn't have to follow through.
Yup I called the fall 06 bullmarket. I was bullish during the summer while the markets were selling off based on the lack of compelling reasons for an extended selloff. And this rally will continue after the pause we have seen in the past month. As you can see in the picture above the nasdaq made a double bottom at 1395 level and rebounded off it sharply. This week it will continue to go higher which will complete the reversal.