*click to enlarge chart.
The BURSTING of a massive real estate and Banking BUBBLE in Japan back in 1990 is still being felt 20 years later!!! Their stock market is JUST 25% of what it was.
WHY do you NEVER get this advice from your broker or financial advisor? "You should move to cash for now, there is nothing worth buying, values too high, we maybe in a bear market"
Brokers get paid when you buy or sell, not while you are in cash. The chart above and our OWN experience should DEBUNK the LONG TERM BUY and HOLD mentality (LTBH).
Our own stock market may now be in a range bound pattern, with the upper reaches near SPX 1000, I would not be venturing in NOW IMHO. AT the LOW end we could 700 ( a higher low) or even 400 SPX depending on what the ADM does from here.
It is reported this AM that "building permits and housing starts increased June from May" and now the idiotic GREEN SHOOT crowd is drinking more punch. MY friends, LOOK around, where the heck is this building going on? With unsold inventory still at record highs, job losses mounting.....I scratch my head on that one.
OPEX FRI is here (options expiration every 3rd FRI of month) TGIF!!!???
D
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