The one thing i've noticed in the past months is that one by one, each "popular" stock is becoming less popular.
check out VRSN, for example. how many people were crying out that there was never any way it would fall below it's support at 33? now it's in the mid 20's and not budging but for a few points here and there.
BRCD, EMLX... same story. there are more, but you get the point.
I think my personal view of what's going on is skewed by the fact that the few people standing here at SI are the ones who actually made it through the past year's non-bear market and non-recession. <G>
The average Joe, however, does still believe in buying and holding ("for the long term") and that could account for the bullish factor out there. Or, it could be that the vix/vixn means nothing anymore since so many are focused on what it's doing.
Thing is, earnings are not better. And unless ALL traditional business principles from all time went out the window in the late 90's, something's gonna give.
So, the plan is to hold my shorts. For the long-term, of course. |
