Lee,
On the market run-up, there are signs that the Asian markets seem to be pulling back. However, I am not sufficiently connected to be able to comment on the Asian markets intelligently.
What I would like is to say my two cents worth on the US market. There is still an excessive amount of "irrational exuberance" over here, buoyed in part by massive amounts of liquidity controlled by people who do not, or do not want, to understand the bigger picture.
I think the US market is poised for for another run up to 9,500 (DOW) before Christmas in pursuit of short term gains, before the other shoe drops, and we fall back to 7,500 - 8,000 next Jan/Feb.
Best,
Steve |
