So tell me, what is really wrong with this stock market?<gggg>
Yeah, I am in the same camp. I communicated with Bill Fleckenstein more than a year ago and Intel was our focus then too. One could make the argument that last year's market bullishness was excessive as well, but as I see it, the only (and its a big one) difference between that time and now is that last year just about every market sector (excepting gold of course) was strongly up. So every market correction was picked up and run right back up fearlessly. Not so anymore. Commodities, gold, oil, interest rates, have all found new life and are up in joyful unison. Whilst the Trans, Banks, Pharmaceuticals, REITS, etc..(soon the Techs), are all scrambling for cover. The confidence is surely misplaced now with these sectors wandering in the dark.
There is no doubt that the Internet and Cell phones have changed our lives as we know it. I mean look at us, chatting and surfing away here every night! I never spent my evenings like this 4 years ago, and nor did I watch and trade the market like we all do now. This IS a Paradigm shift IMO, at least for now. It may end up being a 90's trend when we look back in the future. That still does not mean that companies like AMZN, IVIL, PHCM, JNPR, TIVO, YHOO, etc..ought to be rewarded multi billion dollar market caps, those excesses will be wrung out, for sure!
You know I read on one of these threads awhile back that the end of every decade this century has caused some major worldly change. I will search it out and repost it here, it was fascinating to read that list, and we might be facing another one of those changes real soon. |
