This “market” will not truly correct without a real trigger financial or otherwise.
By Daniel at 5 November, 2009, 7:25 pm
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The Boys have the means to move this any way they want absent something they simply cannot control - especially when they’re in a data “sweet spot”. When “this is it” really is “this is it”, IT is going to be instantly known & nobody (quite possibly even God Sachs) is going to be able to move in front.
Charts, historical comparisons, “sentiment” - the whole schmear will not “reveal” the outcome - this is an unprecedented situation - a global experiment with 6 billion live subjects, 90% of which are totally p***** off and/or insecure, even desperate. We’ll be hearing from them at some point. But I digress.
point is for bears especially, on the kind of news we’ve been getting for months, all you can count on is some moderate pullback(s). The DOW drops 150 tomorrow means nothing. Drops again on Monday, means nothing. Drops because something ugly happens & it will be too big, too fast to take advantage of.
That’s for now. Next year (winter) when data fades for sure, something has to happen with interest rates, Citi’s again in trouble, the various farces are now beyond rationally “explainable” (like Freddie), we could see the sort of lengthy, deep slide you can bask in.
I’m not in this market (and won’t be until it’s real again) - I’m just following intently my stake in the future I actually want to see.
- BedRock
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