Five major indexes have all commenced a primary up-trend, signaling the start of a bull market. A word of caution: the recovery is exceedingly fragile. I will only feel comfortable with the bull signal when the Fed and other central banks start raising interest rates. And that is unlikely to occur for some time — without risking a second contraction. Keep your guard up — and your stops tight.
From Tim Knight:
Your crooked friends in Washington and in the Goldman Sachs building are the only reasons for this rally. Maybe the market won't collapse until Q3 earnings start coming out, and until then you will keep snickering. But my faith that:
1. The truth about the economy will, sooner or later, emerge;
2. Like prayers, technical analysis may be "delayed, but not denied" in its projections
3. The fortitude of those strong enough to stick by their intellect-based conclusions will, in the end, win the day, even if the bullies and fraudsters managed to fool the public for a while longer.
While only time will tell who is right or wrong, the bottom line is both are very sharp individuals who have a great deal of insight. Read and follow both of them.
2 comments:
This is why the market is perpetually rising: GOLDMAN FRAUD!!!
http://zerohedge.blogspot.com/2009/07/goldmans-4-billion-high-frequency.html
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And as the market keeps going up day in and day out, regardless of the deteriorating economic conditions, it is just these HFT's that determine the overall market direction, usually without fundamental or technical reason. And based on a few lines of code, retail investors get suckered into a rising market that has nothing to do with green shoots or some Chinese firms buying a few hundred extra Intel servers: HFTs are merely perpetuating the same ponzi market mythology last seen in the Madoff case, but on a massively larger scale. When it all blows up, the question is whether the SEC will go after the perpetrators of this pyramid with the same zeal that it pursued Madoff himself. We think not.
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OUTFUCKINGRAGEOUS!!!
This is nothing less than outright THIEVERY by Goldman of small traders!
Bondad -
I have a question for you about the stability of the market given the potential for Goldman Sachs to blow up (either through scandal, regulation, or otherwise). Would it be the case that even if in other respects the market should be doing well, it would crash if Goldman were to implode? How likely is that scenario right now in your opinion?
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