Well there you have it folks! The DIA and the SPY have now tested the 5 year highs on low volume and an incredibly negative economic environment. Record oil Rising rates A disaster that will COST net -Billions. So have we topped?
of course we have topped!!! So Clear! In my opinion we will continue to climb for a few more weeks. 1 to 2. I think the markets are busy absorbing all the 'good' that may come out of Katrina. In theory Katrina will be like throwing the economy a $100 BILLION stimulus package. This is FEDERAL money... not we think someone will invest... Think about it and while you are... we should hit higher highs. For those that are trying to balance the economics of it... forget it. When mixing the 100 Billion with emotion... you are bound to get a lift. The capitalistic market could care less about the loss of life. Perturbing but unfortunately that is the way the system is set up. Now once the idea of stimulus is digested into the markets and then the companies start to underperform WITH it... then we have a meaningful correction in the big picture... But hell if I know when that will happen. protrader
No way, US is too optimistic, we will always advance, dont think differently. Look for what people will spend money on next thats the whole secret to America.
Great, now the secret's out. Now we gotta fade the faders. Curious that he left out one option "Don't know" Guess that wouldn't get many votes anyway.
Look at the NYSE index relative the homebuilders.. There is no true leadership in the market.. except for energy..