WE ARE IN AN ECONOMIC DISNEYLAND
22 September 2009 by Cullen Roche
3 Comments
There is a huge disconnect between market sentiment and reality, Kirby Daley, senior strategist at Newedge Group told CNBC Tuesday.
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Comments
Guess who missed the rally? lol.
There are a lot of bitter people out there who didn’t make a dime during this run-up….And many of them are hanging onto their bear thesis for dear life.
The smart people participated in this rally even though they know it is strange (some would even say fake).
The delusional people participated in this rally because they think this rally is due to the economy recovering.
The stupid people did not participate because they know it is strange (some would even say fake).
The REALLY stupid people shorted the rally because they know it is strange (some would even say fake).
In February very smart people said that you should NOT fight the Fed. Their words are a beacon of truth as we are edging closer to 10,000 on the DOW. In March Obama said that it was time to buy stocks. He knew why…
The fact is the dollar MUST go down now for the stock market to increase. This isn’t sustainable as the EU, China, Middle East, etc. will continue to compete with the FED to devalue their own currencies against the dollar. There will be periods of dollar rallies. I think right now quality discount retailers (especially WalMart) is a good buy now as I strongly believe WalMart will see 55 dollars by the end of the year meaning the crappy stuff and resource stocks will go down at some point this year.