Nov

20

Contrasts, from Ralph Vince

November 20, 2010 |

I love the contrast of this. Living, as we do, essentially day-by-day (and I know some of you trading jocks live it second-by second) with the nearly imerceptible changes in long-term sentiment, the following contrast I find fascinating:

First, the PBS Frontline Series of 1997 and the article today.

And that's perhaps the largest part of why I cannot help but be bullish, especially when my long-term system of rates and breadth is long. Couple that with the fact that we've had a downer decade, a bottom in March of 09 with all kinds of socioeconomic flags (and technical ones as well) consistent with a bottom, the 7 year cycle which bottomed in 09, and I cannot help but think we are at the beginning of a bull market whose magnitude I wouldn;t venture a guess at– it may be feeble, it may not be, I just can't tell.

I know there are many who (quite convincingly) argue that we are in a very long term down period. But suppose they're right. Even in the smash of 08 people MADE money. I even made (a little) money in that period trading stocks from the long side only! There were some who made a lot of money on the short side. So when I hear the woman as in the article today proclaim that the market "Has just gotten weird," I say "So?" Get weird, stay weird. I'm staying long, buying more with limit orders under this market.


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