Of course there is no problem!! No credit problems! No economic problems!! Proof? Watch Tuesday's Consumer Confidence report. People have never felt so confident!! Why?? Politics! That's right. People are asking themselves "Am I better off now than I was 7 years ago?" And the answer for the overwhelming majority is a resounding "YES!" Remember that in '08 you doom and gloomers. "Am I better off now than 8 years ago?"
confidence report is a lagging indicator. Meaningless in futures predictability IMO. Katrina -> confidence sinks market? Soars.
Gotta luv it. I actually click the 5000+ posts link for "the t(u)rder" each day to add "pleasant humor" to my day. Until he is kicking and screaming as to WHY? GOOG and BIDU are "unnecessarily" plunging, only then will we know we are at or near a bottom. We should have the "Stdr Bottom Indicator" to define it as such. We are getting close, but we are not there. When the Nasdaq 100 drops to the next level/breaks support (which is entirely in the making via the volatility indexes) and only then will we begin to get close to the panic that is "normally" associated with market corrections. Will we then enter a Bear Market (defined as a greater than 20% index drop) who knows and most that profit both ways don't much care. As for the "soothsayings" I for one am happy for the drool not to cease! pS FYI I went entirely bearish 26/Jul/2007 and for a brief period added long positions - 29/Aug/2007 until 08/Nov/2007 from which I have been again entirely bearish and will be until said events going forward. Last week I went short ES and NQ and held through Friday's light volume surge and the additional ramp/decline in points up to today's close. I think we are getting there and am glad to profit as such. Most of the ramblings you hear is from those that have only traded during this bull market. I'm not sure it is quite over yet, but am confident is will be a non-event when it comes to managing gains. PSS Also notice how the futures are finally now beginning to take caution and haven't moved much since the close? I felt this should have been the case at the lows of Feb '07, but that is just my take.
no one here gave props to stu_cktrad3r for his 5k post! How dare you. HE KNOWS HOW THE MARKET WORKS!!!!+ HE KNOWS HOW STOCKS WORK....BOW DOWN TO THE HALF GOD
Looks like Santa Clause (FED) saves the Bulls asses once again. How about they cut rates to zero, lets blow the credit bubble into high gear, take the index's new all time high's. Then start the cycle of raising rates next year?