Yes, thanks.
But we have two different sets of underlying assumptions. I don't think the US market is responding to the Chinese markets, first of all.
Second, despite the fact that almost everybody seems to think we are in the early stages of emerging from the recession, I think the US markets have not even come close to hitting a bottom yet. I think that will happen later this year, probably mid-September or so. There are far too many people that have already concluded that the recession is all but over. And the market has an uncanny ability to make fools of the majority of investors. The put/call is the lowest it has been in 5 years, and the NASI is the highest since December 2005....and, that began a 5-month medium-term correction. I think the same thing will occur again, and is beginning now, even as so many people are concluding that happy days are here again (almost). Here's some technical and other reasons I have come to this conclusion:
Message 25675212
Message 25675220
And, I anticipate that by the time the US markets hit bottom in late summer/early fall, SSEC will be back in free-fall mode.
WS |
