TODAY'S "RALLY" WAS UNCONVINCING...BUT NICE.
CONSIDER:
FULLY TWICE AS MANY STOCKS DECLINED AS ADVANCED... VOLUME WAS LOW/AVERAGE...
AND BONDS ROSE SMARTLY...
MY HUNCH IS THAT THE MARKET MASTERS WANTED A LITTLE PULL BACK...BUT THEY JUST DIDN'T HAVE THE HEART TO STOP THE 14,000 HYPE...
IN SHORT THE FUNDAMENTALS ARE DETERIORATING...EVEN IF THE RALLY MENTALITY IS STILL STRONG...
IF THE MARKET DOES "STAGE" A RARE DOWN DAY...IT WILL BE SHORT LIVED...THIS IS A RALLY BY THE PROS, OF THE PROS AND FOR THE PROS...
MOM AND POP STILL ARE WONDERING WHEN CISCO IS GOING BACK TO $80 SO THEY CAN "BREAK EVEN."
SO WHEN THIS MARKET EVENTUALLY TANKS...YOU COULD LEARN A LOT...
THIS AIN'T THE 1999 BUBBLE... IT'S ACTUALLY INFINITELY WORSE...AND POTENTIALLY MORE DANGEROUS BECAUSE THE DOLLAR AND THE BOND ARE IN PLAY NOW...
