"The Market Will Never Go Down Again"
Yeah, right.
Treasuries have been getting crushed. Hello... the government cannot afford the interest cost on its bills if short term interest rates are much higher than zero.
Yields on PIIGS sovereign debt are creeping higher, especially Greece which is hitting new highs (12.6% on the 10 year!) today. (I have added links to these yields along the right hand side of the page.)
Meanwhile, the CBOE equity put/call ratio was 0.5 today. Investors have been buying twice as many calls as puts for months on end now.
The ISEE sentiment index was 205 today, also super high.
The bears have given up. The bulls are saying the S&P will increase at 40 percent annually.
You can't fix stupid, but you sure can try.
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1 comment:
I guess you missed the memo about Ben B printing up 600 bil new dollars just to be pumped into stocks.
Thats right. Stocks WILL NOT decline with that kind of firepower behind them.
Go ahead and fight the fed. Fight 600 bil going directly into stocks. Add in good news on the economy and you get another 12-20% year for stocks in '11.
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