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All those talking heads were saying the market looked bullish 3 months ago. Now they are saying it looks bearish.
You have to remember how many negative things were priced in during our 5-6% decline. We most likely had a minor recession priced in, because let's admit a 600 ym decline is pretty impressive. That doesn't just happen BAC or C missed earnings.
That doesn't mean we won't test those lows again, I wouldn't be surprised if we do. But I also wouldn't be surprised if we blow through 13,000 and charge straight for 14,000 again.
Be careful when all those guys pretend like they know what they are talking about. Because usually they don't have a clue. The best thing to do is sit back and look at all of your data, and your charts, then make your own decision. You'll probably be right most of the time if you do the right homework. |
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James, thanks for your comments. I must say I would be surprised if markets charged towards 14000 anytime soon.