One word above all: DISGUST!
There is no empirical proof at all (and I mean NONE!) that the economy has turned around.
Bernie, what kind of economic data are you in possess of other than what we humans are fed with?
Are you out of your vulcan mind?
Not going to list out all the BEARISH (not to say DOOMISH) economic indicators that are available to all who know how to read with common sense.
One thing though that needs to be cited: the sp500 today blew through the 38,2% fibonacci retracement from the all time highs. Therefore, technical analysis says that there is quite a chance that this rally isn't over yet, considering also the other leading indicators.
Most probably there is a 3% left of bears.......and the market seems to be a screaming buy now.
Therefore, if the marktet does what it has over the past semester, it's time for the opposite........SELL SELL SELL.
It's Friday August 21, 2009.......time will tell if my "prediction" pans out.
Cheerz
Itsme
