When will the Bears learn, right? Fake out move from Friday (futures -26) will leave some UBER or NEWBIE Bears licking their wounds.
Why would the market rocket? Light volume, and the cliff has been spoken so many times, fiscalclifffiscalclifffiscalcliff......that it doesn't mean anything anymore.
Know what does matter? Impression that traders have and constantly repeat "Fed has this thing BACK STOPPED, there is no other game in town for returns with interest rates near zero. There is little downside to worry about, China is improving....real estate is improving...etc etc"
I have not heard heard from ANY noted stock gurus except the Prechter's stuck on doom and gloom (not me of course!) prognostication where there is much to fear from being fully invested. And I have heard many on the "shows" hair cafe' and Bloomberg discuss high beta risk on sectors the way to go, not defensive.
Where is the road less traveled and when is it good to have everyone pile onto the same end of the investment ship? (TITANIC?)
For now, sip your Mia Tia's put your feet up and enjoy the Bull ride, bumpy or not.....don't look in the mirror, fear the future of the man behind the curtain, and don't worry about the cliff or even the hill.....they got your back stop....until they don't.
D
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2 comments:
You have been soooo bearish for so loooong, yet we keep heading higher and will head even higher.
It's a different ball game now.
I remember you posted an article from Trim Tabs. They were 100% bearish. That was 7 or 8 months ago. You praised them for their accuracy.
At that time we said with all certainty we were headed lower.
Wrong again!
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