Am I the only one getting a little nervous about this market?
Don't get me wrong, I like GNW and think that it should trade higher in the next two years, possibly getting to another double. Execution will be key going forward.
I just see a market going up, up, up. More nerve wracking is the sentiment I'm seeing on the message boards here and with a lot of other stocks. Lots of cheerleading, and no one seems to be thinking that stocks can actually go down. Granted, 2013 will probably be the year that the flow switches from bonds back into equities so maybe no worries. Just would like to know how others are seeing this play out. Is there something on the horizon that could cause the market to gap down, or is it easy sailing?
The market has to have a correction...no way it can continue unabated...but at the same time, I don't think unless there is something catastrophic, it will do more than trim around the edges. Overall, we are entering a bullish cycle.
GNW has many, many positives...the housing market is busting at the seams, a new CEO; new, creative financial ideas about separating its debt and exposure. The Australian IPO is forthcoming. IMO it is a great long term stock, certainly through 2013. Short term, it will have ups and downs as it works its way back to its probable worth...somewhere around $17-20. I am a realist and am holding it for the long haul.
Problem is that there's not enough fodder to hold the shares during a correction. Usually the "dumb money" rushes in right around now, but that hasn't happened, so the normal downward pressure is notably absent.
We are only 200 points until a 5 yr high...........govern yourselves accordingly......do not get caught with your pants down......timing these things is impossible...better to not make money than to lose money.....