Jannie, I realize that the following question is rhetorical; however, I'll put it forth for any takers . . .
With all of the problems going on domestically and internationally, economically, politically and militarily, can we really expect the NYSEBP to reverse to a buy and to stay that way?
I hear all over the net that everyone and his mother expects a short-term rally that will probably not hold thru October, we need total capitulation, buy oil because of potential Middle East conflicts, buy gold to hedge against dollar fall, return to 1929, yada, yada.
Is all of this noise what is commonly known as contrarian indicators?
If the NYSEBP hits 22, can that mean that all is right with the market world? Yes, I know. Depends on sector, individual stock, earnings. Going to the dance with the one who brung ya. Believe me, I think I asked these same questions when Tom first alerted us to the downturn in the Optionable Bullish Percent. But when the OBP turned, all was right with the world (so everyone thought).
Now, it's all out in the open. And Clinton is not who/what I'm thinking of. When 3rd qtr earnings come out, every disappointment will rock the markets for a while. I guess I really am waiting for Dell, Cisco, LU et all to fall. Then, I'd feel better! (No, I didn't short or put<g>)
Once again, I think I need hand holding. Don't know why. P&F hasn't failed us yet.
Challo |
