Friday, August 27, 2010
It's just a dip!!
Such hand wringing!! Oh My!!
Every pullback, and you have every bear, just blaring how the world is going to collapse. El-Erian now says there is a 25% chance of deflation. Which means that there is a 100% chance that he is wrong!
Rosenberg assures us that we are on the road to Japan, on the road to the Great Depression II.
Roubini, the great Zero, assures us that we will have a double dip.
Isn't that Wall Street for you? Oh My!! Have your portfolio come in a few percentage points, and they're back to touting the end of the world.
Last night, I had this message on my phone--"Tell me, after today's action, how you can remain bullish. Just tell me."
As though a day's action in the stock market will dictate what you are supposed to do? Is that investing? What about today? Whoops. Does that mean yesterday was just a do-over?
Give me a break.
Stocks are cheap--but wait--now we hear that no one will pay up for stocks, because the earnings are coming off of the back of the consumer. Labor is getting squeezed so profits can get juiced.
I guess no-one will pay up for stocks--unless you are Dell and HP fighting over 3Par!!
What will they say then, when the unemployed get jobs? Oh wait. That's right. No one will ever work again, and no one will ever find a job again.
So maybe all the workers are supposed to move to India or China or Vietnam, and get worker arbritaged?
All we have is just a pullback--It's just a dip!
And with this dip, you have the pundits going hysterical!!
It's just a dip that needs to be BOUGHT!!
Posted by Palmoni at 9:07 AM