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my comment to the wunderbears out there: 100 to 200 bil USD per month
is automatically flowing into 401K's and IRA's regardless of whether
the market is up, down, or spinning out of control.
my question to the wunderbears out there: where is all that money
going to go if not into stocks? are they (mutual fund managers) goin
to park it into 90 bills? suuuuure. it sure ain't goin into
commodities or hard assets. maybe bonds while stocks sort themselves
out.
the arguments for a primary bear market are as logical as a snake oil
saleman selling the new wunder system; it looks great on the surface,
but when you do some diggin, you realize it nothing more than fool's
gold. if we're in a new paradigm economic model like i believe, then
the old way of analysis will not cut it anymore.
i believe that we are in a normal bull market correction of an ongoing
bull market. take a look at the last correction in the s&p in the
april/may 98. compare it to the current correction. i see fractal
similarities, the only difference is in scale. the current correction
is much larger to be sure, but that is normal and healthy. with all
the news swirling around regarding russia, china, asia, latin america,
and mexico, it is nothing more than another wall of worry for the bull
market to climb.
another point. i received in the last month more mail from
newsletters warning of market collapse, panics, and global depression
(10 to 1) than for the bullish case. not a scientific sample, but too
many, too quickly, are jumping on the bear bandwagon. i even heard
the bear word uttered lately on CNBC! this psychology is typical of
bull market corrections, not new primary bear markets.
but then again, i could be wrong
TJ
one man's opinion is another man's toilet paper.
and i've wiped my butt on a good share of mine
---Brian Massey wrote:
The markets are simply a giant ferris wheel for the world's cash. It
flows from one sector or country to another and then eventually back.
yes, Brian, i agree
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