And now for a short intermission from the end of the world for a few positive signs:
* oil prices have dropped down and stabilized on a non-alarming plateau
* monetary conditions are the best in history with record low short and longer term rates, a promise by the FED to keep it that way, and more massive easing on the way on 9/21
* corporations are making record profits and have enormous amounts of cash on hand
* pessimism is extreme by every measure from the VIX to the NAAIM to widespread public despondency. and folks, from the sheeple to the "experts", are already OUT of the market. serious selling pressure would come from where?
* insiders are loading up
* fiscal stimulus is already set to be a flood, with a $1 Trillion deficit for sure and with (at least) the payroll tax credit to be re-enacted, which will add more
* unemployment is high, keeping wage pressures and turnover and productivity issues on the plus side.
what else could we want? some day, maybe monday, maybe next week, this rocket is going to lift off and just keep going and folks who are not already on board will have to watch from the ground.
IMHO! |
