Time to start walking away from the market, at least in my opinion. I can sit on the sidelines and wait this one out. I still like energy and think it is way undervalued as well as mining, so I will hang on to those but I am trimming down.
I think energy is one of the only long term bright spots in the economy and has the potential to move us forward as an economy into the 21st century. Obama care should put the whole economy into recession, with or without the fiscal cliff.
Happy New Year to all. Hopefully the FDA will decide one way or the other in the near future!
This is a tough one to call, but I think it is time to do another 180 degree turn and start slowly taking profits slowly in financial longs. Relief rally for now, but I think we are approaching a market top. Too many complacent financial professionals in the marketplace, But I could be wrong!
I figure that by next week the warm glow will wear off and people will realize we still have the harder to deal with debt issues ahead of us and that all we have gained is higher income taxes, new obamacare taxes and more regulation. No rush to sell longs and go short however. The market is "happy" that they didn't lose more to obamatax!
BTW, at $450,000. as opposed to $250,000. there is much, much less damage to capital formation! That is a good thing! There is almost no damage above the $500,000. income lever as those businesses tend to have more available sources of capital!
We got the rally on relief that "it was over", but it isn't over. As usual they kicked the can down the road! LOL People will wake up and see we are digging the hole deeper! The question is do they realize this in two weeks or two years!
On your points, I do agree. I think when we finally question why we ever had government in the first place, why we individually needed representation, we will discover, its time to represent ourselves. And when that day comes, we will actually have a government by the people, but will it ever be for the people or will corruption always reign supreme? Cicero said more laws means less justice. Will it ever be time to look at crookery and call it what it is? Treason?
Sentiment: Strong Buy
This is easy money so far, but as soon as the dysfunctional idiots in Washington get their acts together it will be all over so one had better stay 20 minutes ahead of the fiscal cliff news and be ready to reverse direction for the short term.
In the long term our economy is in great trouble. June 2015 or there about should be the water shed!
Credit markets tightened long ago. Venture Capital markets are a bunch of silver spoon 2000 idiots that think being lucky makes them *smart*. In the end, if we are attached by a superior force, only then can some normalcy return. We have sneakthief cancer. We are eating ourselves from within.
Sentiment: Strong Buy