"I dont think that recent run-up was all momentum, I would say
momentum accounted for 60% while appreciation, market strentgth,
etc. accounted for 40%."
That strength is the disinflation plus good earning. Without
disinflation, the current PE are simply too high for most of
the stocks, even with the good earning. So as any sign of
inflation comes back, the mrkt will react violently as today.
Yeah, I am the only bear left on this thread (maybe Rio),
but am a quiet bear :) If you want to hear some bear (and bulls)
noise, you should check out Dell main thread, where I can dig out
some valuable insights from both sides after filtering out
the noises.
I am missing Doug's posts too, but saw him lurking around the
short seller's thread. :)
regards, Keith |
