i think shmo pulling out may be a potential contrary indicator.
all due respect to shmo, he is a wonderful individual.
i am not understanding the logic unless your only play was trading. where is the money going then?
cash is safe for now, but inflation will eat at it.
gold is a good haven, but the money men can drag it down so that they can get more of it. the level of manipulation in the gold/silver market rivals the housing market.
treasuries?
muni's?
i am buying oils and metals. the world may be in a sustained recession that drags out seemingly forever, but EVERYTHING moves at light speed with this interconnected world. any hint at a sustained move upward and you could lose a 2000-3000 point swing to the green. furthermore, with a 20-year time horizon, i care little about another 30% to the downside in these core commodities.
so much money on the sidelines. too much money, IMHO. it should be a signal - at the very least.
as a shrink, i do believe Michael Santoli's premise in this week's Barrons of a panic-paralysis. i think it is paralysis beyond rationale. once the waters clear and people start thinking again, you will see the move upward violently.
i am not prepared to bail on the market right now, but then again, i have been out for a good long time with a good amount of my money - as well as buying rentals. i have the ready cash to buy right now.
this market is moving on emotion - only. no technicals or fundamentals at this point. emotion. but when that lead bird of emotion changes course.....
the flock will follow. big time.
EVERYONE is in cash right now......
think about that. EVERYONE is talking about being on the sidelines. the pros know how to manipulate this meme.
but then again what do i know????
(heh-heh-heh)
-peter
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