George,
I read that same article. I somewhat agree with it, but moreso think THE most important factor was missed or not even considered by the writer.
Short Selling. Record Levels. Reverse momentum. The same bubble greed in reverse. The traders/speculators left have a spine, too much of one to be exact. They have no fear of an upmove and remain short in ever increasing amounts. That takes either some foolishness or some sort of a backbone.
Now in regards to the U.S. INVESTOR. They haven't got a chance; Spine or no spine right now in this swell of ill market sediment, errr sentiment. I can hang around buying and flipping to barely keep even with the seemingly daily fall, Jake is hanging I assume, you have reappeared, there are a few others who see longer term buying opportunities and are accumulating.
But the U.S. Investor who got sucked into the Merrill Pimp type valuations can't stay, they're gone, disillusioned, crooked out of substantial savings. Partly from their own greed, partly from not being street wise to the ways of Merrill Pimp. From trusting their paid broker advisor. They don't know where to turn and can't afford to be wrong. So they stay away.
Meanwhile, those specualtors with the current dose of short to zero bravado spinal implants run roughshod over the remaining Investors. Aided and abetted by the Merrill Pimps of the world who surprisingly still hold vast amounts of customer capital. And USE it daily against those very same customers in this short selling frenzy market.
Meanwhile another staunch U.S. Investor gets served up as a fillet by the rumor, innuendo, or lie of the day.
So the writer should rewrite the article and address the real problem. Speculators and Brokerage Houses betting against the US economy. In such size that the U.S. Investor buying interest is being overwhelmed. Swamped even. As the Mutual Fund Mis-Managers fret and sit on cash.
The real spineless bunch is Corporate America and its panic stricken freeze on capital expenditures. They've removed so much business from each other that they are all going down in flames. |
