Sybs has never witnessed or studied a period in the markets where
stox were so hated while trading at all time markey highz.... Look at any stok board out and you'll find the following overwhelming sentiment of disdain and mistrust az it relates particularly to the financial markets while they were at all time highs... Any board - just look at the hate.... It waz not like that in the tulip bubble, in 1929, in 1963, in 1998-2000, or even in 1
2005-2008 all love love love...
Now sybil iz not saying that the markets were never hated so much.... In 1932 - 1937: hate; dot bomb + an enron kicker = 2003 hate.....
What sybil iz saying iz that when stox are low they are hated, when stox are high they are loved.... But here stox and finance are high AND hated.... At no point in history has this ever ever existed.
We are either going to break out on hate to MONSTER new all time highs until such a time stox are universally loved - 1700+ on the s&p would be that level, or the stok markets are going to CRASH to levelz that match the hate..... 450 on the s&p would be that level.
A very interesting paradox that bernanke haz created.
I agree with Tech. Most stocks are not hated. What is amazing is the percent of assets invested in stocks, by institutions and individual investors, who think they will be able to get out sometime in the next three years, before Fed policy changes. They don't realize that the stampede out will occur much sooner than three years. Maybe has already started. By the time the panic period ends, there will be unprecedented hatred of stocks.
Hatred only of the trading scam stocks and institutions behind it as long as institutions start acting like investors again. INTC and CSCO would not fall much (trading at a few x EBITDA). There is a path to restoring trust in the equity markets without irreparable damage. That path is to sell all the MOMO scams and buy real companies with real valuations based upon fundamentals. Absent that, the markets will be permanently damaged (and there will be need for very few human beings in the financial services sector since it will have proved itself incapable of exercising human judgment...).
Sybil, go back to 1999/2000--lots of people were mocking/hating the "DotCom" stocks at the top. Just because this market today is "hated" by some doesn't mean it can't plunge bigtime. I think there are more lovers of the market than haters--market vane is over 70% bullish, quite high. Skiidady showed up the other day to pump--that is a good sign for the bears.
Stocks aren't hated. The financial sector has destroyed all trust in the markets by playing these scam trading games. If we had internal balance, the distrust of the capital markets would not be such a profound issue. But, WS doesn't want to take investment risk in productive assets.... it simply wants to tax the markets through scalping. I am concerned that the mistrust will evolve to anger and, ultimately, to a vigilante version of OWS if TPTB don't refcous on creating value rather than glorified theft.