the SPUZ continue the ascent at midday, gunning for the ever closer 1050 level - why 1050 is more important than 1047 Ill never know, technical analysis is silliness. I would give a rundown of whats strong but whats the point everything is. the secondary offerings are flying off the shelves, the bigger the better. Good thing the president is going to make sure Wall St. does not make the same mistakes, like blowing up a credit bubble, no worries this time its an equity bubble. SPG has rallied 180% from the lows, all the while being a reit that is paying it's dividend in stock. This is a company that operates large malls, any chance this is getting a bit overdone?? The momentum is unreal. Is there any chance that large funds are colluding? Couple that with stock borrow becoming harder by the minute and you have the rally that never ceases, not even for 10 minutes unless its overnight?
I keep thinking bulls make money bears make money pigs get slaughtered - the bald guy said "its different this time" I guess it really is.
JB
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This is beginning to remind me of 1982, coming out of a very severe recession -- probably the worst since the GD, aside from this one, which was/is a an asset/credit financial melt-down plus a recession.
ReplyDeleteIf you have access to charts going back to '82 it would be interesting to take a look. My recollection is that the market took off in late summer and didn't look back for a quite a while. However, while severe, that was a garden variety recession (not like this one) due to the usual boom-bust nature of the business cycle (overproduction, inventory gluts and the like).
fp
FP thanks for the comments - i tihnk im signing off for a while - im toast.
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