http://globaleconomicanalysis.blogspot.com/2009/09/buy-dip-mentality-fully-entrenched.html
Excerpt:
"The opinion that the market can and will continue to rise is becoming ever more widespread, and ironically the bulls ALL say the same thing, namely "everybody else is bearish".
Mutual fund (MuFu) managers are not bearish, that much is certain. At 4.2%, the the MuFu cash-to-assets ratio is one of the lowest in history, in fact lower than at the 2000 top, and only a hair above the 2007 low. Those stats (from a friend) are from July. Given the continued rally, MuFu cash on hand has probably decreased even more in August.
The Dow's dividend yield is now at the level of the the 1968 top and the September 1929 top. Good luck with that!"
3 comments:
Hi Mark, if you look at the light volume all summer and everytime the market wants to correct you can see a buy program hit one of three stocks to prop the market up. They are exxon mobile, goldman sacks, and jp morgan chase. And the feds are doing this in my opinion by using the futures. In my opinion every politican in washington, the federal reserve, the treasury and all the bank ceo's should be put in prison right along with bernie madoff because this is the biggest ponzi scheme we will ever see in our life times. I sold my shorts for a loss and they will never get another cent of my money thru the stock market. Just had to vent. waldo
Also mark, everybody and there brother that follows elliot wave is calling for another nasty wave c down to take out the march lows but gann cycles called the bottom in march and the beginning of a new bull market, so far gann cycles has been right. According to gann cycles the 870 spx in july was the safest entry in this bull market. waldo.
Hi Waldo,
Yes, the game is rigged...
I have a feeling the inevitable wave 'C' will make the derivatives blow up,
then we can go out and join the torches and pitchforks crowd. I'm kind of ready for that myself..
Mark
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