The market has a memory. We nearly reached the 2011 ES highs around 1370 in the overnight market and have backed off. The Greeks got bailed out again. The money coming from the ECB has done its job. In a normal market, we should pullback, but there is so much money in the system that any pullback will be short and over quickly.
We have another liquidity induced rally like we did with QE2. The capitalist boom and bust cycle have been manipulated with massive amounts of money being used to cover up big holes in federal and household debt. The only side effects are $4 gasoline and stubborn inflation even with high unemployment. The market never crashes because of inflation. The bull market will continue and those fighting Banana Ben will have his helicopter wings chopping at their necks.
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8 comments:
1360's pullback. Time to go long.
Market is near a top. We should drift down several months 125-150 S&P points, in what will seem more like a consolidation and finish end of year strong.
When the market rolls over, buying dips is so hard
OL DAWG says
DIS IZ DA TOP
TOP!
It's not the same as last year. We are not going to roll over and drop 300 points. The "faux" crisis is over. People were scared and having 2008 flashbacks when it was nowhere near as bad. The coast is clear and we have a big wall of worry to climb for the rest of the year. 1500 here we come.
FSLR @ 38 bucks.
Like taking candy from a baby.
OLDAWG
Dawg, if you think this is the top, why you getting long FSLR? I'm looking at the FSLR chart, it isn't down that much this year.
Solar doesn't have a high correlation to the market.
Anyways I fucked up on the trade. I got out. I am waiting to get back in anywhere from 34 to 32.
Waiting till 1375 to get long TVIX.
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