There's more at the door. But I'm still a bit perplexed/amused that the looniest stocks/valuations continue to levitate. Have you heard? Q3 earnings are going to be really, really good. That's basically all the bulls have to say, other than the economy is going to slow--REALLY, this time it's going to happen.
Springtime: buy stocks, stay fully invested, the Fed won't raise rates. Stocks go down.
June/July: buy stocks, stay fully invested the Fed won't raise rates again. Stocks go down.
August: buy stocks, stay fully invested this is really the last rate hike. Stocks go down.
September: buy stocks, most of them are already down 20, 30, 40% they're really good values now, the economy is slowing and the Fed is REALLY done.
October: Fed has told us they're not going to raise rates, let's party...don't forget, earnings are going to be great. We don't care about no stinkin' bias, and those old geezers in bondland are just plain stoopid.
Friday, October 8: Unemployment continues to fall, hourly earnings too high, non-farm payroll uncomfortable large...buy stocks the economy is strong should be great for next year's earnings. Bonds are much lower than they were in the early '80s. <g> |
