Zeev's Turnips Patch-No Politics (ZEEV)

[marvin1946]

Max
That too is a reasonable view. I will argue valuations are now low enough because of the low interest rate environment. Ed Hymans says 1/2 point fed cut in november. Money flood from cash and bonds will fuel things if we dont get a negative surprise in iraq imo. And the possibility the market will get exhuberant with good iraq results(peace or quick victory) can create some irrational exhuberance out there, especially if oil prices fall into the teens post war. All of this leads to the possibility that this rally will continue after a pullback from interim highs(augie 1250-1300, zeev 1388-1550) and become that cyclical bull. marv