I am amazed at the general tenor of comments about today’s rally — it was very much party like its 1999.
I was on Liz Claman‘s show today from 3 -4 (she’s a delight). It felt like a celebration to me — and all we did was undo yesterday’s losses. It was treated like the second coming by some people.
Put this into context: The action of this Bear has ripped away half of the bull market from 1982 to 2007. Thats 27 years of gains down the tubes.
And today’s action took back a single day of losses.
The chatter makes we wonder if there is simply far too much bullushness for anything more than a modest bounce at this time . . .
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.