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Pastimes : The Philosophical Porch -- Ignore unavailable to you. Want to Upgrade?

To: westpacific who wrote (5468)	3/15/2010 12:20:04 PM
From: Rarebird	Read Replies (2) \| Respond to of 26251

That's OK.... Apparently, both the bulls and the bears have given up on the short term. The bulls are using historical average behaviors following bear markets to rationalize why stock prices are headed inexorably higher, while the chastened bears are biding their time as they await the inevitable smash to the downside. With the mid-May top looming, it's likely that the market has a couple of months of sideways trend left. Of course, an early top is always a possibility, but so is a final exhaustion blow-off rally (the Shanghai stock market chart suggests that's a real probability). In terms of fundamentals, it's only a matter of time until the Fed pulls enough emergency backstop money out of the economy to allow it to collapse once again. They can't hold stocks up here in rarefied air forever.