It is amazing that the bulls feel they are in the minority. "Think like a contrarian" they continue to say.
The funny thing is, they don't realize that the majority has been saying bottom since 4000. Now that we are nearing 2000, they continue to believe themselves as the one's going against the tide, when in reality, they are only going against THE MARKET. It's as if every bull believes himself to be the originator of buy the dip. Unfortunately that is what has been ingrained in them by the media, the brokerage houses, you name it. What if Greenspam dosnt rescue them this time? I personally feel he can not anyway. However, I believe inflation is on a tear. When this fiasco is through, we could see more than just one rate hike. To believe in this mythical 'soft landing' is the same as the mythical 'santa claus rally'. Both are generated by the media to help the 'real' money escape, and leave J6P holding the bag. Good luck Bulls, you are going to need it.
P.S. Denial is a VERY strong emotion. It's caused many a great man's downfall. No reason to think it will not continue. |
