Tuesday, May 26, 2009

So much for the handwringers!

What happened?

Weren't we supposed to rollover?

We couldn't even get through 880 on the S&P. But then again, I would be remiss if I didn't bring that up, because that's what I advertised!

Now this weekend, we had some folks make a big deal about North Korea. Didn't these same folks do that just after April Fool's day?

And didn't the market scream after that?

Oh that's right. Then we had Mike Mayo warning us about the banks. And then we had warnings that NY City was going to be a ghost town because of taxes. And then we were warned about foreclosures.

Did any of that make you any money?

Did any of that happen?

What happened to consumer confidence? Why is it going up?

Oh that's right. Now the bears have a new clarion call.

Give us time--and give us years!

It's like the Republican's after last year's election. Wait until 2012--Boy will we have the ticket! Or Dick Cheney's recent chirping!

None of it matters, unless you're a pundit.

It's the same with the market.

The pundits don't matter, because they're not in the game of buying and selling stocks.

They're in the game of buying and selling advice!

Now the next dip will be next year. What happened to this year?

I said before, and I'll say it again.

If these bears can't even get us through 880, how in the name of Lucifer are you going to get down to retest 666 again?

But that's the simple math that their algorithms can't understand because the laws of science don't differentiate between the past and the future. But real life does!

The other day, one of my daughter's friends dropped one of my gigantic mammoth molars and it broke when it hit the floor. If this happened on Wall Street, these bears would be sitting there waiting for the pieces of the molar to jump back together!

So if this universe is subject to the laws of thermodynamics, then isn't Wall Street? What would be more chaotic? The market continuing to run, or a revisit of the lows?

We know the shorts haven't covered, and the longs aren't invested, so why would it be any different here?

And why shouldn't stocks go higher?

After all, aren't we in an inflationary universe?


Anonymous said...

why are the regionals not really moving....?

any stock buys for this week?

Palmoni said...

It's this massive institutional shift from bonds into stocks--and they only seem to want to gravitate to the big names--so far.

We'll see.

I'm sitting tight with them.

Anonymous said...

can you fix the molar?

if not, send the pieces to me and i'll repair.