I thought it was the other way around. You know things are GOOD when bad news becomes good news. Assuming your a bull?
The street/market has a bad smell to it.....look under the covers for dead and decaying carcases. Market up on UBS/Citi bad news that subprime problems are over. What a load of BS....more subprime and prime to be disclosed. Fed drops overnight rate and now 10/30y mortgage rates are actually up.....market worried something about inflation fears......then god help you if you have a equity loan that is now floating at prime + x% . Where prime % = LIBOR. Wall street market = magic show.
Well, I've been looking for a dip for more than a week now. Nothing doing. Longer term, though, my position trading model is looking for major breakouts just about everywhere, in everything. The skepticism on this site just confirms it. So, short term I'd like to see a pullback, but being a long term bear on this market is definitely a losing proposition. Volatility is also in a long term bull market. Which means, being nimble will be rewarded as well. Over the next few years, IMO, you can either be bullish and make money, or be a nimble trader and make money. But being a bear for more than a couple weeks at a time will kill your capital.
who can be a bull when debt to gdp ratios are through the roof and derivative use has been put on steroids? this is gonna hurt sooner or later