it's hard to say, my wife spends so much, LOL. I have number stocks that I had 30% gains on, a few at 50% gains but that's from in May. <g> But I have been winding down my activates getting ready for an extended time away from the market.
re: Do I think the bears are in denial?
Not anymore, I think they are lost and have failed in their studies of market cycles. <g> The bears are not trading on a major trend anymore. They are just trading and have decided to trade the sell offs. Last week I mentioned the possibility of a Head and Shoulder top in the naz. I believe H&S is being confirmed, but it's only going to be a 10% or so correction. Just enough to suck in the those investors that are inclined to be bearish or comfortable being bears or suffer from inflexibility. The coming correction will set up the second leg of the new bull market, which started in April. I will not be surprised to see an extended trading range though after the warnings are overwith, tis the season for such action anyhow. Furthermore, the longer the sideways action, the more firm a base will be built. I would love to see the market go sideways on low vol. for months on end to snuff out the traders and work off the weak hands. I doubt I will get my wish though, just too easy for Tom, Dick and Harriett to get in and out. I love bases by the way, I have made living playing off of them. The more bases the better. So, I welcome a dull market from time to time.
Here is a prediction. From the Buffalo tread, it's about rate reductions, which goes with my above comment about market cycles. I'm predicting a .25 reduction, the posters was saying a .25 rate reduction would be viewed as a non-event, I was rebutting that... <<sure it less then what they have been doing, but lowering rates is still an indication of a fed standing ready to help move the economy forward. I wouldn't call a .25 rate reduction a non-event at all and I don't think the market would be disappointed, in fact I believe the market would take .25 rate reduction as an indicator that economy is stabilizing. I really don't believe anyone can say now that the Fed is behind curve anymore. Going forward, I see the FED more in a mop up mode anyhow. Rather then being reactionary, the fed will be adding insurance with the up a coming rate reduction. Also, I believe FED will stop reducing rates after this meeting, and enter into a wait and see mode, with a stand to reduce more if needed stance. Then as the economy stabilizes and starts to turn, the FED will go to neutral. ....... as the cycle completes itself. >>
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