RALLIES BASED ON MAGIC OR "SENTIMENT" ARE ALWAYS SUSPECT... BUT WALL STREET DOES THESE RALLIES WELL IN HARD ECONOMIC TIMES...
CHANCES ARE THAT THE SENTIMENT AMONG WALL STREET'S "20-SOMETHING" MONEY RUNNERS IS THE KEY...
BUT THAT MAY HAVE SHIFTED IN THE LAST WEEK...
OR MAYBE, THE GROWN-UPS ARE TAKING OVER...AND TAKING PROFITS... AFTER SEEING THE IRRATIONALITY OF THE MARKETS FOR THE LAST THREE MONTHS. TOTALLY "UN-HIP!"
THESE YOUNG MONEY RUNNERS ON WALL STREET LIKE GOOGLE AND APPLE...BECAUSE IT RELATES TO "THEIR LIVES" DIRECTLY...
IT'S HIP...
WE OFTEN HEAR ABOUT "HIP TECH"...GOOGLE, APPLE, AMAZON AND RIM... AS OPPOSED TO "UN-HIP TECH?" ....MICROSOFT, CISCO AND YAHOO...?
AND THESE "HIP" STOCKS BECOME ALMOST CULT PICKS...AMONG THE YOUNG MONEY RUNNERS OF WALL STREET.
...WITH THE FATE OF STEVE JOBS AT APPLE HOLDING THE "MAGIC KEYS"...SORT OF LIKE THE RETURN OF MERLIN FROM HIS PIT OF DISPARE...
BUT THESE SAME MONEY RUNNERS...HATE AMERICAN AUTOS AND OTHER US COMPANIES... THEY LOVE OIL BUT HATE NAT GAS... AND LIKEGOLD BUT ONLY A LITTLE...BECAUSE IT'S NOT "HIP" ENOUGH FOR THEM...
CLEARLY, THERE IS AN IMPRESSION THAT... IF THESE YOUNG MONEY RUNNERS ..."LIKE SOMETHING" ...THEY WILL BUY IT...
BID IT UP... STRICTLY BECAUSE IT'S "HIP."
BUT AS WITH MOST THINGS NOT BASED ON REALITY AND REASON...THERE ARE LIMITS.
AND WE MAY BE AT THE LIMITS NOW.
