Wednesday, June 10, 2009

The race to new highs

Hang Seng up 4%
ASX up 2.27%
DAX up 2.5%
FTSE up 2.2%
Nikkie up 2%
KOSPI up 3.2%

Didn't these buyers get Nouriel Roubini's memo?

Roubini is now so discredited, why even bother with him?

But let me give you a quote that he could of made:

"Suppose that all the debts in the world were called up simultaneously and immediate payment insisted upon. What, under our present conditions would happen?"

That was from Sir Arthur Conan Doyle's 1912 book, "The Lost World."

And that's what the bears have lost! They've just spun a work of fiction, that isn't interesting anymore! And then their work is purloined by others until they tell a story that they want everyone to believe.

Now they are losing their world.

And the leader of them, Mr. Roubini, reminds me of the Dodo bird.

When this extinct bird (Raphus cucullatus)was created at the Natural History Museum in London, in the 50's, they got a proficient modelmaker, Arthur Hayward, to make a life size "replica." But they needed swan feathers to make it "real." But Thames swans were either owned by the Queen or the Guild of the Lighterman. So one of the Museum's accomplices, went down under the Hammersmith Bridge, and grabbed a swan, and put it in a sack. Now they had their "reconstruction." The Dodo bird lives!

Now don't the bears do the same with their models? After all, aren't the bears the market's black swans? Always playing with swans! With their models of the Depression? With their graphs? To make things real? To con you, to make you think those times are similar to today?

And doesn't their leader, Mr. Roubini, do anything to get a nice swan in the sack?

Dr. Doom is now Dr. Dodo!

It's the bird, that the bulls, have flipped him with!


Anonymous said...

one of this days the market is going to reverse and you will be stuck with your constant bullish predictions. Are you gonna accept than that you are the Dodo?

Anonymous said...

Was today the day?

Anonymous said...

could be... TLT is down 2%, all is going to be great for home builders! Buy stocks! Ah, those Dodos with their bearish predictions are not relevant anymore.

Palmoni said...

If the market was going to turn, I would be bearish.

Which explains why I'm so wildly bullish.

And why the Dodo's are becoming irrelevant.

Anonymous said...

What's with all the unjustified attacks on Palmoni? He calls a spade a spade and I have seen him be bearish on certain stocks when appropriate. And he has been right so far hasn't he?

Anonymous said...

The Palmoni attackers hate the fact that they're wrong... that's why the attacks. It's not always about the charts and the fundamentals, it's about knowing the psychology and manipulation of the market. People with vision and strategic strengths have an intuitive sense that "facts" and "logic" often seem to run contrary to. Right now, Palmoni's a bull, as his strength is calling the market. He will tell you when the market will reverse, and then he'll be a "bear". At that point in time, I suspect the "bulls" will then be the Palmoni "haters"...

Embrace his intuition, at one point in my life, that intuition was responsible for allowing me to build my dream home.


Anonymous said...

A lot of bears are now Dodos