the iran standoff is going to kill the party pretty soon. oil above $100 and the potential of major conflict involving israel and the arab countries sparked by a preemptive attack on iran's nuclear facilities, might disrupt the global economy and erase a couple of thousand points in dow.
I'm a long term bull but I'd just like to see 1200 on the SPX before 1700. I want in but I don't want to chase at these prices. Looks like barring a terrible initial claims report tomorrow I think we may trade above 1500 first week of May. God help us if we continue higher after that.
So you have found the grail - congratulations. Never failed? So this indicator has signaled at least once before I take it . . .
Put on your "valuation indicator" glasses, both dow and sp are around 18 pe and trading near 7 year highs, compared to nearly 30 pe seven years ago. Where is the froth? I still see growth and value...
I've got to agree with Mr. Sparky here. In constant dollars the indices are not particularly high compared to past excesses and certainly can go quite a bit higher. For example if the S&P were to reach it's peak 2000 level, in constant dollars, that would take us to somewhere in the vicinity of 1800. The investor in me thinks i don't want that to happen, not a lightspeed anyway, but the trader in me does not care. One thing is especially notable here, and that is that we are about as far from the daily 20ma as an index ever gets. Therefore i expect that any day now we will have a down period of a week or so duration that will bring us back to the 20, before resuming the ride to the moon . Watch the talking heads proclaim when we hit 1550 how we are making all time highs, which will be typical of their meaningless babble.
Mr Chewy. the 2 day naz looks tre toppy to stoney. I'm only raising cash in my spec account because you never know when a slew of private equity is going to greet you on monday. It's an odd dichotomy but for once people are afraid to sell certain stocks going into the weekend! This will keep us in good shape till Private Equity blows up which it will. ST I'm not liking the market any more despite the fact the money is good. These earnings are average and stks are up $11 anytime you see multiple day spikes in the baby bios you know you are nearing the end friends... just one more trade before I go as they say.....