Sunday, August 30, 2009

The correction callers are all in

The NY Times has come out with a new headline: Some Once-Bullish Analysts See an End to the Market Rally

“You have a classic case of greed stampeding investors into believing that nirvana is at hand,” said Charles Biderman, chief executive of TrimTabs. “We just don’t see how the market’s going to last.”

He said the same thing in March option expiration and at June option expiration.

So when did Charlie get bullish?

Oh that's right--he didn't!

But why bother with a little fact like that?

And of course, the NY Times had their own spin on Doug Kass:

The hedge fund manager Doug Kass, who declared in March that stocks had skidded to a “generational bottom,” said last week the rally had run its course.

And we've already uncovered his take here.

When the market is ready to correct, it will tell you.

And not the NY Times.


Gollywobbler said...

Your like a Zen Master

"When the market is ready to correct, it will tell you"

what do I look for? more froth and irrational buying?
I guess I'll just know

Anonymous said...

Asia markets are getting massacred. I think tomorrow is going to suck.

Anonymous said...

Any thoughts on the recent upsurge in insider selling? thanks, love your blog