Wednesday, July 29, 2009

This Market

“Pain is inevitable, suffering is optional.”
M. Kathleen Casey

There will be pain.

<-- Year to date chart on the S&P 500. The market has been acting great lately, refusing to roll over and digesting bad news rather comfortably. What is also happening is that people who are long are getting complacent, and people who were underinvested are getting involved on the long side.

I still believe that there will be a nasty correction relatively soon that will really mess up the semi believers, then a move higher into year end.

The move higher would be standard economic recovery fare. The nasty correction, for those buying stocks right here, could leave a mark or two.

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