Also seen the same but when market is tanking silly. Tons of people trying to catch the bottom. It's a good learning experience watching, learning what not do . I think its an ego thing. Apparently waiting for HLs or LHs is not good enough for their ego or security.
Even when the market is tanking these same people start talking about market crashes. How many posts last august were about retesting the lows? It's a mentality. These people learn enough economics and then think that they know something everyone else doesn't. They want to be John Paulson (of 2008) or Paul Tudor Jones predicting 1987. And I've never met anyone who has this mentality that I've been impressed with. And this doesn't just exist on this site. I've seen it with bank traders and with hedgefund traders as well.
dr doom and many other major economist are calling next year a terrible year too. its very rational the only problem is you can't time the market and when it will decide to focus on the fundamentals. the fed and other national banks are not fixing the problem they are just pushing it off another day.
Expect trader come back to market after labour day? Nope, it didn't happen. Volume are gone and will not come back! Just did another test, sell 500 shares at bid, all the bids underneath are gone, price are 3 cents lower after this! It's stock with 2ml shares volume so far at 10:30 am. How would it like for a shares with much less volume? It's not harder to make them up/down 20%, 30% a day.
My last boss was a perma bear. Whether or not you are a perma bear or a perma bull, you gotta be pretty cocky to think you know so much as to maintain a consistent opinion regardless of all the varying positive or negative datapoints that come out all the time.
A more relevant question is how have the Dow and gold done in the current monetary system (since 1971) when you adjust both for inflation? http://home.earthlink.net/~intelligentbear/com-dj-infl.htm I love the selective stat/end dates, though. It's like the so-overused "look at gold since the peak in 1980!" arguments. The same crowd never talks about stocks' performance since 1999.
If Obama wins the markets will grind higher. I the other guy wins expect another " CRISIS" they will raid the treasuary again and the process starts over.