I am one of those who believes that the market should consolidate here. I think retracement is way over due. Continuing a non-stop upward move from here is unsustainable and it is not healthy. minor corrections are good for the markets. If not, history will repeat itself, imo and we may crush harder than the first bubble. Also, why is it that insiders are selling so much if they didn't know what they really know.
Many are talking about fund inflows to which I agree, but that is the outcome of the fed's policy of pumping liquidity on a daily basis to create the present bubble knowing that all the cash on the sideline will soon find its way into the stock gamble. Interest rate way down. bonds crushed. gold held in check. what is left? your guess is as good as mine. Greenspan and his cohorts have perfectly planned this bubble, but what they are missing is the massive insider selling. Or is this some diabolical scheme of complete wealth transfer from the masses to the super rich? I hope not. My fear here is now that the ceos know that the fed and Bush are behind this present bubble, what is to keep them from cooking the books all over again? It seems all every body wants to hear is some bs from corporations that will support this bubble. What better way for them to deliver, cook the books. Forget the sec. It is a watch dog without teeth.
This is my fear in this contrived rally where the likes of cymi and others like it that deliver nothing but red ink are hitting multiple highs. This is what I find insanely unsustainable. It is plain crazy. good day!
peace!
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