The reason I'm mostly sure that we did not hit a top... is Pure sentiment.
Sure these latecomers need to feel some pain, run aound short the market, long the market...
But The run ends on either Massive Euphoria, or Complacency. Either we are so sure that we "Bottomed" that we are resting on our laurels. Not because our quant models say that we are overbought, or that the usual rally ends at 25% or so
I also want to remark that the Strong dollar this morning, doest't bode well for what the Momentum traders have been going after, all the Hyperinflation stuff. you know that at this point they are in full Panic.
Tuesday, April 7, 2009
Market Top's and what they look and feel like
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment