Well Mark, 10k and 2k better hold today, or people will be very disappointed. And, we haven't had any real bad news for a while, I think it's just lurking out there. IMO, since the talking heads have been calling a bottom for a year and half and screaming buy the whole way down, only to have us keep going to new lows, I think some people will keep their cash and not return to the market until there is clear evidence of economic strength and growth. Also, many will not buy stocks until this terrorist chaos picture is more clear, IMO.
I believe trimtabs has it pegged, pension funds and hedge funds have loaded up, hoping that retailers will follow.
The Nasdaq does have record short interest though, can they be wrong?? They could be.
I read an article not long ago that talked about how that sidelined money is disappearing, it's going to consumer goods, debts, and some just being saved for rainy days, in case people lose their jobs.
CSCO doesn't even have a P/E anymore, does it??
Thanks Mark, interesting times we're in now. |
