IS SHORT TERM CORRECTION NEAR?

I believe it is, SPX 1343-1345 area should repel advance until overbought condition gets relieved. Yesterdays advance actually came with buying and selling volume % nearly both at 50%. Not many sellers but buying volume has dried up and become more selective.

There may NOT be much downside, the game is rigged, so you have to play with the house, but deferring new buying until a PB runs its course may be best approach.

I am a perenial Bear right? NO! I have a BEARISH opinion of the fundamentals of the economy and at least in my mind these FACTS are indesputable. But remember what I say, opinions, news stories mean little to the market. And just like dot com era and the FALSE economy of 2003-2007, the non recovery recovery story being peddled around now will eventually BLOW UP and be exposed.

DID we not just have a debt bubble blow up? Then why in hell is corporate cash rich on balance sheets America now more heavily in debt than ever before?

According to the recent article I posted BIZ borrowed some $500 B last quarter, that is double what they borrowed last Fall.!! Their debt levels according to Brett Arends has risen 24% to $7.3 TRILLION in last 5 years.

IS THAT PROGRESS? lots of that CHEAP money goes to buying their own stock!!!!!!!!!! nothing to create jobs, just to enrich themselves by goosing share prices.

This is the truth and I'll continue to bring it to you. YES we have a BULL MKT, YES prices CAN go higher, but with LITTLE or NOTHING to show for it in the REAL ECONOMY, how do you think this will end?

Duratek