Wednesday, September 16, 2009
Mr. Market - The Punisher
Futures are up. Again.
If you thought the market had come too far, too fast and reduced equity exposure accordingly, you are losing.
If you have been getting more constructive and waiting for a pullback to get in, you are losing.
If you think this market is expensive, it looks very much like you are answering the wrong question.
If you are positioned for the economy to double dip, you won't know whether you're right until after it has happened.
BAS ML just upgraded Amazon. The name has been stalled out in the $80s so I haven't been wrong yet, but being negative on this one has been unpopular.
Return of the day traders?
Yo Mr. Market, I'm very happy for you and Imma let you finish, but 1999 was the best upside rip of our generation.