Bill,
I am still short/mid-term bullish(30 days), but being objective I am concerned that there are so few BEARs out there now. You and a few others on SI are holding up the bearish camp, and every J6P I speak to is still very bullish and most of them laugh at me when I talk about a bubble and the possibility of a BEAR MARKET where the P/E for the S&P could get back to the 15-20 range within 5 years.
What amazes me is how SOME bulls, and I did say SOME not ALL, keep on saying that there are so many BEARS in the market. I guess those specific BULLs, not all BULLs, just cannot be objective. It is also common for SOME BULLs, and I said SOME, clump all BEARS in the same category where they will keep on reminding how wrong some bears have been calling for a pullback for over 5000 points ago. Yes there have been a few BEARS who have been wrong for a long time, but most of the BEARs on SI have not been BEARISH for 5000 points. If I recall correctly you have been bullish quite a bit in the past.
Well you are still one of the few contrarians for now who is staying with the strong bearish stance, which should actually make more objective BULLs nervous.
Frankly, I think your timing is slightly off by 3-6 weeks. For the time being, I am more inclined that a very strong sell-off has a higher chance of occuring in AUG to mid-SEPT. Of course if you are wrong you may be reminded by some. ggggggggg
seeya |
