Lexus, to your and Golfin's credit, I do see the possibility of a very fast meltdown if the mood changes. Euphoria can turn to paranoia so fast it would make anyone's head spin if there's clear evidence of a double dip--which we may see evidence of soon enough. So far, the 2003 scenario *continues* to play out--amazingly. And it's blowing out of the water the idea that the 9-year cycle and sigma el are pointing down. If the 2003 scenario continues to play, then we should see a repeat of 2004--not 2002. Noticing how the 80-week low came in August 2004, and now we are expecting an 80-week low in the same period (July/August) of 2010. Fascinating.
Ted
Know the PRESENT market configuration so well it *appears* you know the FUTURE 70+ percent of the time.