All the smarty-pants economists and analysts are pissed off. Every day they come out on TV and make the same bear argument over and over again. They just can't understand how the market can keep climbing higher week after week. To them, they keep looking at their 3 month old data and keep making the same assumption. Round peg just won't fit in square hole. Why isn't the stock market doing what they have been preaching about?Nobody believes in the rally. Everybody hates it and is trying to bet against it. These losers keep buying gold (for inflation, right?) and trading houses and hedgefunds who have lost major amounts of money trying to short the broad market are getting a butt-full of clown. Now they have had to switch to long positions, trying to make back their losses.
And so we continue to climb the "wall of worry". It's been a simple trade, but not an easy one. It's like a game of Jenga.
Everybody is hoping that the market will go back down to DOW 7000 or 6500. Not a chance. you missed it. All you fuck-ass "value" investors missed your chance. It's a mommentum market now. Deal with it, and stop bitching. If we see 7500, that will be it.
And all the smarty-pants continue to question the rally. They keep watching, they keep waiting. And the market continues to get away on them. Mr. Roubini, I'm talking to you.
Folks, this is Johnny Newsmaker signing off. We now return you to your regularly scheduled programming… "Hedgefund Managers Gone Wild!" only on Ranting-TV…
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