Zeev's Turnips Patch-No Politics (ZEEV)

[shtirlitz]

There is no "safety net". The very thing that ppl think there is one is incredibly bearish for this market.
And this is nothing like September. September was shock, fear, market was tanking never to come back.... Now everyone is catching a bottom for the next miracle bear market rally.

Forget VIX. It can hit a 100 easily. Put/Calls are all below 1. And other technical indicators may be negated too. The whole feel of this market is different.

"We all know that this market is crap, and stocks are expensive junk, and that economy isn't picking up and very sluggish, and that 11 rate cuts didn't work, and that housing market is toppy, and consumer getting overextended, ... but its gotta have a bear market rally, because technicals look oversold, so we'll catch the bottom and sell to greater fool who will think its a new bull market".
I don't think thats how it works <g>