Monday, December 28, 2009, 4:35PM ET - U.S. Markets Closed.
While short-term bullish, Harrison is cautious above what lies just beyond the immediate horizon, citing the following five reasons here and in the accompanying video:
The flu story is meant to distract us. Stop picking bottoms, or at least wash your hands afterwards, and it won't be a problem.
sell in may and go away? that's exactly what johnny ike has told us to do. i'm calling my edward jones advisor right now!
Stop the gloom and doom. Quit trying to increase your ratings. How about telling us how to find the sound companies and investments instead of trying to increase your following. This is the last article I'm reading associated with either of you.
Definitely not buying into the hype that we are in the clear. I am waiting for the correction
So many "experts" have been wrong about what the market will do -- especially Aaron, who has called the recent rally a "sucker's rally" and dead-cat bounce, and even gone on record to say he wasn't getting back in anytime soon. One thing is clear, however, and that's that the market has generally started to rise 6 - 9 months before a recession ends, which would place it around the end of this year. Seems about right to me, but I'm no "expert."
All you shorts and bears missed the permanent bottom in March. You've already missed a huge move up. We are climbing a "wall of worry" and long-term investors will profit greatly over the next 5-10 years (especially in materials and energy and selective small-cap funds). This market has tremendous pent-up energy to move up, despite bad news that normally would cause the market to correct. Those who are waiting for a huge pull-back to "get back in" will be terribly disappointed. Us older investors who've been involved in the markets since the 70's know that the markets will climb a lot more and then plateau for awhile. Day-traders and those who bet against (short) fundamentally good companies will continue to lose their shirts.
So many "experts" have been wrong about what the market will do -- especially Aaron, who has called the recent rally a "sucker's rally" and dead-cat bounce, and even gone on record to say he wasn't getting back in anytime soon. One thing is clear, however, and that's that the market has generally started to rise 6 - 9 months before a recession ends, which would place it around the end of this year. Seems about right to me, but I'm no "expert."
The swine flu bs is just bs. Way overblown. It's the flu and some people die from it. In Mexico you have over half a mln people per year dieing from other causes. Thousands of people die from other forms of flu every year. What is so different with this one. So far in Mexico there have been 7 CONFIRMED deaths from the Swine flu in meixico one outside.. The 100 or so others are unconfirmed but MAY be related to the Swine flu. I wish the media would give it a break, but I guess they have to have some sensational story to make money. The real loser is the Mexican economy.
Todd Harrison has been watching too many "spy" movies. The Mexican Anthropologist was infected by Al Qaeda in order to infect President Obama with swine flu? Give me a break. Hey Todd, maybe the terrorists are behind all the volcanic eruptions and earthquakes around the world too. After all , they live subterraneanly.
Aaron, I want to be frank with you. The quality of your quests is not as good as Henry's. This Harrison is a low-quality trader. His guess is slightly better than a monkey's at best. He reminds of another trader named Jon NAJARIAN. These guys live off the volatility, which means in plain English, their gains or losses are only slightly better than the market's AT BEST.
Only 5? Wait until the people finally look behind the curtain...
I have been very slightly long since the last week of March 2009. I agree with the commentator that this is a bear market rally. We've had massive 20%+ rallies off of the bottom in October and also off of the lower low in November of last year, all before the market went to new lower lows. I see no major difference with this time, either. The market did not have proper formations to indicate a final low was in back on 3/6 and 3/9 and I declared that that was not the final low back then. We never even had a retest of the 3/9 lows yet, either. I will be exiting my long positions and getting short with put options once I see a market failure to rally, but that has not occurred yet since we keep hitting new highs for this move. I'm not being pessimistic, only realistic.
I'm afraid I only partialy agree with Johnny Ike today I do think sell in May but still see another "bottom " coming in june/july still have lots of people out of work and the three/ four month mark for foreclosers is in june / july don't think we are out of the woods yet
i'm going to spread this rumor. obama has the swine flu and is going to die. that will surely exhaust the rally.
How many swine flu deaths in the US do you think it will take before fear sets in again? 100, 200, or 1000 maybe. When we have 10,000 dead by May the DOW will test new lows. How about some commercial real estate defaults, how many trillions in bad debt do you think the taxpayers will have to pay for next? 1, 2 or 10 maybe. When BAC and C and the rest can't make a profit in Q2 no matter how much the Fed pumps in, more fear, DOW will test new lows, June? maybe August? I think this W partern will look like a string of Ws. Nobdoy missed a permanent bottom yet, plenty more to come.
This is a bear market rally. Traders needed an up-leg to get folks back into the market to rip off on the way back down. Give it 30 days and we will be on the way back down. Lets look at reality: 1) Commercial and Alt-A Real Estate failures are just getting started. The Sub-Prime collapse will be nothing compared to the next wave coming. 2) American "consumers" are tapped and loaded in debt. Real Estate prices are not returning ANYTIME soon. Consumer retail spending is not coming back anytime soon. 3) The Swine FLU is really most likely a "bio-terror" event, but it came from inside the U.S. - virus samples were taken and replaced at the same military bases the weaponized antrax was stolen from and mailed around the U.S. - this is a mainstream story now. Look at medical facts: we are not in FLU season, FLUs always come from EAST TO WEST (Ie: Asia), and this is a structure that has not naturally happened in the past... too many problems with this FLU. Good reason to justify keeping people off the street (ie: protesting) due to collaspe eh? 4) The Bank Stress Tests are NONSENSE. We have already hit levels to satisfy the "alternate tougher" levels. Lets face it, the ONLY reason these banks are open anymore is because YOUR MONEY was given to them. Also, look at the accounting magic they used for Q1 results. Wait until Q2!!! I totally this is a "W" recovery. If you are going to ride this do so and make money but understand you need to be ready to GET OUT when it reverses... and it will.
Hmm...we're overdue for the next leg down. I wonder if the trend will continue or we will breakout? See what I mean at www.BearMarketComparison.com.
"What I do know is the Market will end up Dow Jones 18,000 in five years, No doubt about it.". That may be true, but if that happens, gas will be $20/gallon and gold will be $5,000/ounce.
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Yahoo! Finance User - Thursday April 30, 2009 11:57AM EDT
S & P at 1000 ? U got to be Kidding !