The market went up 200 pts last week because the fed was done, or we were told anyway. Now with durable goods this high means that there is no way the fed is done, and the market rallies again. Whats the reason today ? Earnings have been great but the market is trading on the present, and I still think this bubble is bigger than 2000, with the back drop we have in place. Shows how wrong I am, as the dow is hitting new highs
You may be wrong today, but you may be right 3-6 months from now. This market defies logic. I guess nobody remembers the lessons of 2000-2001. "It is different this time". It is never different.
On another note, I don't understand the fascination with Jim Cramer. In 2000, he was telling everyone it is a new market, and buy, buy, buy. After 2001, I heard him on a talk show telling everyone how he cautioned everyone about the "bubble". What a moron. He has fooled a great number of people though, so he may not be a total moron.