Larry,
<<Want a recent example? Probably less than 0.1% people predicted that DOW will hit 8400 in Feb. (on the contrary, most of us would have felt lucky is DOW remains in above 8000), and yet it did in a very convincing manner.
To put it simple, if people have listened to those bullshit in the last six weeks, they missed a big opportunity to significantly improve their portfolios.>>
This is not BS. Please remember that everything is a cycle. Yes, the economy is strong but it can't last forever. Yes, I agree that the market is still in a bull run. IMHO it is only in a bull run still because people don't have anywhere else to put their savings,401k $,fund money,etc..
This will end at some point with a rise in inflation and interest rates. It will come, but timing it may be difficult. I can't imagine putting in money into a foreign market like the Hangsing--it's at 15000 for Christ's sake.
You can't really believe that if the DOW gets to 10000 it's still a buy can you? Granted it may get there but lets be realistic. How much bigger can you blow a balloon?
Yes, on monday and thru the week I intend to cover many of my short positions-at a profit thank god-but I wont go long either. I will stay in cash (except for starting a short position in BFIT:) for real-the volume's starting to dry up and I think its been pumped for the big fall)-until this craziness of ridiculous P/E's and people buying anything no matter what the valuation shows a sign of slowing down-at some point people will keep some money in the bank and run out of money to risk in a market that will eventually take their profits and some principal with it. When people are so confident that wherever they go long in the market it makes me wonder. Anyhow-I'll stop rambling now-and begin another short position.
Instigator |
