Everyone in a bear camp has a "bad feeling" about market, everyone sees unjustified increase in stock prices, short interest increasing day by day...
Bulls, on another hand argue that economy is solid, we are heading for the "soft landing" and soon someone is going to say that we have "shortage of stocks"...
Who is right?
Market is right, it is still running full steam ahead ( Is it? We had 3 distribution days during last 3 weeks...)
Market is still running, we are at the top of earnings season, yes, right, WINTER EARNINGS SEASON - what famous saying I'm thinking about? "Sell in May and go away" In May?
How about March when FEDs are not going to cut rates and going to hint, again, that they will NOT do it for a while? Will market listen then?
Earnings are good? How much better earnings have to be from now on? Much better? How much is that - "much better"?
(EBAY) turned around? Great! How much money millions of shareholders made since March 2004? Zero? "NoTTing"? Let me rephrase - how many people are siting on losses since December 2004?
(ATI) at all time high? Great! Off 5 weeks long base? Pardon me - should I short it? Good question. Better yet - "should I short it now or in one week when mutual funds will finish unloading?" (of course, not one week - 'cause it'll be just a beginning of "unload" )
Somehow Bulls don't sound too convinced right now or is it just my imagination?
Someone, please, keep an eye on Wall Street Journal for me, let me know when they going to post an article with profound title "The Bear Is Dead" - that will be THE DAY to short and I think it is getting closer. Mid February? Any takers?
While we wait and listen to the market - visit Trading to Win MEMBERS SITE for stock ideas and detailed strategies ( for now mostly long - I don't like to spit against the wind )
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