Wall Street Manna

An irreverent look at Wall Street

Thursday, May 7, 2009

S&P 4444 --The antidote for David Tice's 325

A couple weeks back, David Tice was touting 325 on the S&P. Maybe I should remind the bears where this bull market ends--4,444.

Now when I wrote that on March 12, I suppose people thought I was being rather capricious:

It's the bull market of the beast. The low in the S&P was 666. The low in 1982, on the DOW was 777 before it's 18 year run. And when the market crashed in October of 1987, to the high in 2000, the S&P had moved 666%, and it took 3,141 trading days (pi). So let's take the S&P low of 666.666 X 666.666% and we have a target of 4,444 in the S&P.

Since I was born at 4:44 AM, on this earth that spins around the sun at 66,666 miles an hour, I'll take those numbers. But no one else will. The bulls flip to bears when the market stalls, just like a sober alcoholic goes back to his drink. The bears can't go in the bull camp because their positions are contrary to it, and so is the news. And like an alcoholic, who thinks a drink will make him feel better, they go back to their shorting ways, not realizing that the punch bowl for the bears has been taken away, and the market is on the road to recovery. So I threw in some math, that only someone with "wet brain" would appreciate. The market just got it's white chip. It's not going into relapse yet! The green chip comes in 90 days. And that's when the bears will sober up!

You would think that a 36% move in their face, would cause some of these pundits to reassess their veiwpoints. But they don't! They just tell us to "Sell in May and Go Away!"

These bears give us these predictions that will never happen, while I'll give you a target, that is impossible for the market to not attain.

Now if this recovery still isn't recognized as genuine, by those of the bearish ilk, where do you think it has to go just for them to sober up?

Even an intradip causes these bears to get hopeful, hoping that the next big collapse is coming. Today Mr. Black Swan is out, telling the world that we will be in worse shape than the 30's. These prognosticators can't even get one day right, or one week, or one month, so they throw out predictions that are so out of bounds, that they belong in the black holes of space!

That's Wall Street Wise men!

They're so interested in being the star, they can't see where the light is shining.

Now these same pundits want to ban the word "green shoots."

They can't see the green shoots until they get their green chip!


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