I agree.this thing will grind lower to single digits.Guys the market will go down when least expected.Watch the contrarian indicator.If the perception is low then the markets go higher.They know that many traders are aggressively short and few long this market so they act accordingly by squeezing the shorts.Do not play by the rules(fundamentals) cause you lose that way.As long as QE remains,u.s. indices will keep grinding higher.Believe me.The only thing that could bring markets down if qe remains is a u.s. downgrade or a full scale war in the pacific or middle east.Inflation could trigger a substantial market correction if commoditiy prices;crude oil in particular go through the roof.
Out of nowhere Cyprus will cause a short-term pullback.
This was the excuse for market to go red for a couple days.
SPXU could briefly touch 29 but probably close 28.50-28.90 on 3/18/13.
GLTA just don't overstay SPXU.