Right on James....Market is too illogical for anyone to figure out!
Basing any predictions on Elliot Wave or any other measuring stick, especially when it involves historical data is almost worthless. Joe Granville, Peter Lynch, etc. still make it on CNBC...and Michael Metz....still calling for a bear market, just like at 6,000, 7,000, 8,000, etc. I guess they have to be right sometime.
Fact is, with the baby boomers putting incredible amounts of $$$ into mutual funds, this acts as a buffer on dips. There are no other good or comprehensible, alternative places to put your money (at least as far as the average investor is concerned)
A Clinton Impeachment (unlikely); rise of the Yen, Japanese pulling out of our market, FED. rate tightening, or certainly signs of renewed inflation will affect the market...no doubt. But no one knows "when" with any certainty that these factors will change.
SO...unless the market tanks starting Wed. afternoon, as many have suggested with some certainty, I will blow all you prognostacators off....ONE MORE TIME...FOR THE UMPTEENTH TIME. |
