BUY BUY BUY!!!!!!!! This is the time people get rich.. This is no 2001. Jobs are fine, wages r up!!! retail is not so bad. just let these scanky lieing pricks that run these banks go out of business, we will see the next Eron, MCI in banking soon..Im sure they r cooking the books big time to save their ass! The good news is at this rate or decline they will belly up soon.
Define the bull market. IMO, SP500 is within 2-3% of an intermediate bottom. There is a good chance it will bottom out tomorrow.
Even if the bull market is over (and like I said last week, this is indeed the toppiest looking market I've seen in years), once we're done testing the August lows we'll almost certainly rally back up above 1520 (spooz), to form the right shoulder. Triple tops are FAR more common than the double variety. In the near term, the above scenario makes for great trading... However, in about 6-9 months from now, once the market has fallen and can't get up like a geezer in an early 90's TV commercial, we'd then be in for 3-5 years of pure feces trading. Think 2001-2004... Barf.
My first paragraph above- Nailed it! <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1736799> Paragraph #2? For all of our sakes, pray that I was wrong about that part: Please Allah, NOT another four-year famine starting this year! Root canal with a rusty scalpel and a drunken veterinary-dental school dropout, a brutal ass-raping, a bullet to the head... Take your pick: Pretty much ANYTHING seems more appealing to me than an imminent repeat performance of 2001-2004!