OBVIOUSLY, I am VERY early on this and have NO confirmation. It is just a theory of mine base on intereest rates, the dollar, euphoria, record particp by public in mkt, bullish consensus, 20 yr low cash levels at mutual funds, w/ everyone talking 10,000 "at least this yr if not more," and then there's the old superstitions...hemlines dropping, AFC won the superbowl, bull on the cover of newsweek, etc. I could go on and on. You are right, this could just be a big correction. We'll have to see how it plays out, but I am seeing signs of the beginnings of something that looks bad.
Sidenote-- LOL!! just saw this (brought the TV into the office for a little CNBC... notice an analyst on CNBC explaining this away as "profit taking" Remind anyone of anythng in this sector????? Explaining away steep declines as just profit taking after a HUGE run-up???? HEHE LOL!!!!!!!! THE BEAR IS COMING. He's not here, but be assured, he's coming!
-Lucretius |
