put/call ratio of 0.65 is still bullish
VIX over 31 is bullish
I dont follow MoneyMkt/Ursa Funds measure
if he believes complacency abounds, he has his head up his ass clean past his shoulders
I see waves and waves of capitulation, utter frustration, and masses frozen in confusion
countless people are close to exiting the market
now the new bellwether NewTech Uniphase news will calm the market
the onliest dangers I see upcoming are:
1. Gore wins (I doubt he will)
anti-business, pay down debt excessively, spineless, rudderless, intelligent image-conscious moron
2. Cisco disappoints (I doubt they will)
so many firms like JNPR, EXTR, RBAK are cutting into mktshare
SONET growing but what a deadend in two years
creative accounting practices drawing attention
3. Federal Reserve still focused on inflation (may soon change)
the only commodity with high price now is crude oil
lumber, grain, metals all are down
many inflation measures are down: bond yields, morgage rates, gold/silver
productivity is still strong, while labor costs are up
recession is a higher risk than inflation, hands down
Fed better wise up soon
if they want to rectify the labor market strains with a mini-recession, it wont be hard -- STAY THE COURSE
fwiw, thoughts from a jackass
/ Jim |
