Loading ...sell-off is nothing–and, %-wise, that’s true. They ALL say they would like to see a 5% or 10% correction and then they would buy with both hands–wouldn’t the surprise be—that with all these H-omens, that the mkt really crashed and didn’t bounce back right away? The much ridiculed H-omen! What if it worked this time? Ha! The Classic “the wolf really is at the door”—the boy who cried wolf story.
This long bull market has the bulls in a state of dangerous complacency–they are caught: hook, line and sinker…
The whole rationale for stocks since the fall of the Berlin wall until today, is the fall of communism/socialism and the recognition of capitalsm…with the potential billions of new middle class consumers–all that is true–the possiblities seem unlimited…but along the way to consumer nirvana there will be pauses and even crashes…I am surprised that the mkt hasn’t been able to stage one of its usual “what me worry”/BTFD rallies–the past 5 days have been the mirror image of the last yrs rally…no one wants to put on any shorts for fear of that-out of nowhere–rip your face off rally.
Gold’s now down-I just checked the $-it’s still down too…