Enigma,
And 1,000 wasn't pulled from a hat? Study the charts and guess. That's all any of us do anyway. And three cuts is three cuts; I doubt it matters how or why, and I doubt the 20 times it worked were all under the same circumstances. You've got to be flexible if you're betting on market direction (something Iadmittedly am not the best at), and I, for one, wouldn't be short this market right now; history is against you. The market's not going to fall just because it's overvalued, and you already know the Fed is powerful enough to counter everything that has come down the pike so far, so what's going to make it fall? The economy is going to have to weaken substantially from here to spook people, but the Fed has bought some insurance against that. If we had this kind of leadership in the past, '29-'33 or '73-'74 wouldn't have been as bad, and AG knows that. Just my opinions, of course, but the stage is set for a powerful rally early next year, if not sooner.
Paul |
