- OK, here is the part where those expecting a market correction can ridicule those who are riding the rally up as gunslinging idiots. Let me try.
The market has decided it wants to rally everyday forevermore. The 40,000 DOW Express is rolling! When economic numbers come out that show the economy may be slowing more than anticipated, the market is must be bought. When companies reveal bleak forecasts, the stocks must be rated "overweight" in a portfolio. Who cares if the semiconductor industry is slowing? What does that have to do with the price of the stocks? Who cares if job losses are growing and wages aren't keeping up with inflation? Why does that matter? The Federal Reserve is done, the soft landing is here, and the next move will be down, ushering in another era of cheap and easy money. The Express is rolling, and the glory of unlimited profits is just at the next stop ahead: DOW 40,000!
- How's that? Overall, I'm bullish but surprised we haven't seen more fear in the market. Or maybe I just missed it...
- So why doesn't President Bush just hire some of those Hewlett Packard board members to find out who leaked the National Intelligence Estimate? (Uh, that's a joke! Insert laugh track HERE!)
- Dictionary.com has "premium content." $19.95 a year. Huh? So are words left out on the "free" site? Are words misspelled on their "free" site? Maybe some of the meanings are off a bit on the "free" site? Perhaps there's a limit on the number of syllables on the "free" site?