Market is going up gradually since 1/10, every sell order is meet by a buy order, obviously someone is buying. May be those IQ =80 fund Manager who make 5 million a year (from fee) is buying again, after they are under perform market last year ?
What is funny is the TV pundits always seem to tell people to sell when SPY was trading at 107-121 and now at 129s they are telling people to buy.
The pundits aren't trying to make you money. They are trying to sound smart. If they are bearish when the market is going down it sounds as if they had been bearish the whole time. They sound smarter; they can increase their brand; and then they can sell whatever they are trying to sell. Everyone in the market has a personal motive and often it's not to make profits through speculation or investment.
This makes me laugh to myself... The OP is surpised at the facts that: 1. The market defied his logic and... 2. People can make out very well without having much skill or talent by being lucky. Not to mention in order to become very wealthy you must be lucky (born into it or made out on a risk/reward scenario) and MIGHT have skills.
never, there's always a new set of investors/traders coming in with either zero brains, zero experience or guidance, etc etc
Again, today sell (1/13) don't seemed very strong to me either. The market go down in open but hold quite well after that, too many "buyers" (with IQ=80) in the market now who buy the dip. I won't feel surprise if the market is or almost out of red when it close today and the rally resume next week. I am out and flat now with break even. This market really sucks to trade.