You even had me going on Monday when you ran through that 200 day moving average on no volume and the bears laid in wait and let you sit up there for a couple hours. If that reversal didn't happen I would have admitted a bull market and lost a large chunk of my bankroll and confidence. Gotta love the stock market.... in the end it always does the right thing. March lows will be obliterated. This may be the most obvious selling opportunity in years.
the stock market is always WRONG... Your irrational inexuberence makes me a big buyer at 1389 SP.. Record high indicies by year end..
Real Estate is the key here. Consumer is suffering, with rising inflation Fed will be forced to increase the fed rate (otherwise bond market will do it for them). With increasing rates RE has nowhere to go but down - consumer will keep on suffering (consumer is 70% of our economy) banks will suffer. When banks are not willing to lend money economy cannot grow. Conclusion: any rally is a shorting opportunity.
Not time to be optimistic or pessimistic.. lets' be realistic.. I am and have been a permabear since 2000..though I toned it down in 2005 when I realized I was fighting the tape.. Technicals, fundamentals, and more agree with me... The markets can act irrationally longer than you can stay solvent.. Record high Dow before year end...
How many contracts do you want to buy? I'll put a sell stop at 1389 and you buy. Then we can both show our blotters at the close.... you down?
The funny thing is the story is still the same. Hasn't changed at all this year... when the market is going up people don't want to look at that icky fundamental nonsense they just know they want all time highs.... they don't know why we should go there but they hope something is out there to give it them. Greed and fear baby... greed and fear.