The party is over for the bears. That was the worst news I ever seen this morning and yet an explosive rally to the upside with The Hartford tripling in price. Higher prices to come next week. Bear market is over.
Gloom and doom didnt come on Monday and it wont come on Tuesday. Face it. You cant fight facts and statistics or a bottom call by Joab. The bear market is over. Its done. Time to get long steel, time to get long energy, time to get back into the financials and then a little tech like Apple and Goog. Its time right now...
Mr. Holmes - Who cares that we rallied off of the worst jobs report in over 3 decades? Who cares that the Big 3 are getting $15b before Christmas so the unions don't "occupy" the plants? Who cares that the dope from princeton bought $5b of agencies raw-dog? Who cares that Obama announced GD2 by announcing new deal pt. deux? Does repairing or building new roads/bridges/buildings/shopping malls/hotels/parks/housing create organic demand or does it add to the existing bloated supply/capacity? Does throwing money at the Big 3 create organic demand for autos? Why is Toyota singing "saved by zero?" I guess what I am getting at is, F the government and their futile attempts to throw a bucket of water on a California wild fire. This ends one way, "the great aggression." The only options on the list are choosing between deflationary or hyperinflationary trim.