Haim,
Everything is pointing to a concerted effort by the FRB, financial programs, investment bankers, etc...etc, to buoy this market. I think both FA and TA can be thrown out a little while, i.e. a few more weeks. There seems to be great urgency to make everything looks good and keep American consumers spending. A drop in consumer confidence can mean a grave deal to the recovery of the sick economies. It is unwise to go opposite to this bullish trend, as it exploded up and they tend to last a long time. As I see it, this market may rise till January, when the holiday retail sales numbers come in. I think there is a chance of some disappointments at that time. From now till January, it is best to stay with the momentum. Even after it gets very frothy, it will still take 1 to 2 months to see any drop.
Having said that, this market will most likely prove me wrong. We'll see next week if this bull is real.
Fred |
