Here we are, on May 1st, and the major indices are breaking out, again, and on low volume, again. My April 17 top call has failed for the moment. But as every Strategist will tell you, “I’m just early”.
Also remember last year when markets had a fantastic “Magical Mystery Rally” as the third quarter began and before a harrowing and volatile drop? This year’s action has been remarkably similar to last year and the year before–but many people will tell you that it is different this time. I dunno.
After a small retracement (and renewed doubt) to the latest Primary Breakout near SPX 1360, markets are as confident as I have ever seen. In this election year and with Central Banks in full control, nearly everyone understands to “be long or be wrong”. We are all of one opinion and the only “wrong-thinkers” are obviously crazy. Any un-American short sellers are being forced out, one by one.
This game is getting simple; just do exactly the opposite (Costanza) of what fundamentals tell you, stick with the prevailing trend, don’t fight the FED and do what everyone else is doing, namely buying liquid financial assets. QED
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Must be why ACAT is doing so well . . . expanded market.
scott you may want to watch more fast money or mad money instead of seinfeld for your
stock ideas
Yeah, that’ll do it…
Glad I bought on the 17th….let me know when the next magical date is so I can buy more.
Buy Buy Buy until the end of July*
“My April 17 top call has failed for the moment.” Hum, no, it just failed, since it’s May, LOLtits. Otherwise does that mean that if we go down at any point in the future you would have totally nailed it? Even so, not sure who would benefit from that anyway. You might want to quietly let the tax-day thing go, the market is just not explained that simply.