This is turning into one of the greatest Bull markets in history. After all, there are no sellers anymore. There is no “sell the news” as everything bearish has been discounted and anything bullish has not. Be long or be wrong at any cost.
Today, worldwide markets (except China) are up 1.5 to 3% across the board. It doesn’t matter what the sector is, most everything is up because the Europeans are buying all the short-term government bonds outstanding in the name of “price stability”.
So we ask the question, “where does it go to”. The answer is “to the moon”. It is far worse to be cautious and sidelined during this monster bull market than to be bullish during a crash. If you even breathe a hint of risk management, you will be a laughing stock and the “training” to never sell continues as long as Central Bankers have printing power.
You know how you feel sick to your stomach being heavily long during a major market correction? Now folks feel directly the opposite; they are sick that they are not 200% long and margined to the hilt.
This is not sarcasm in any way. The market is at post crash highs and there are no sellers in sight. Historically, this market action and news reaction would mean we must be peaking. But not in this world governed by the Costanza philosophy.
11 Responses to Nothing Left But the Spike
lol.so i take it that you and a lot of us arent buying this b.s. disc:long metals only.
Your home builder post has definitely had some edge.
Nice call out Scott.
god dmnd,can you have a longer name…….madrea sangria el-chupa des res chimichunga montez el-rico coco-lopez…………:)
No es possible.
Nearly every bull market is hated and over the very long term the market goes up.
Some things never change. Everything else is usually not worth the stress. Those that bought the 2007 top will be made whole and anyone who averaged down at any point between then and now will make vast sums of money. Much to the chagrin of those in the know.
Come on Scott there are always sellers. You just need to find some different trader friends.
gonna be a ton of sellers come spring of 2013. i figure 3 top companies go belly up. i found 2, i’m not sure yet of 3#, because it’s moving.
Scott was all bearish just a few days ago. These clowns are starting to sound like Cramer.
Fancy seeing stocks up 2% and Oil prices down .5% – Perfect storm for the Dems #electionyear
Why even participate in the scam except to scalp central bank money to accumulate more precious metals and reducing counterparty risk?
Keep your head when those around you are losing theirs.