David Rosenberg was naysaying the markets and economy in 06, 07 and 08.
The gangsters proceeded their bubble run of the DOW up to 14,000 before their ship finally turned and fired back. Point is effects take time and today's jokers (fed, treasury, economists and pundits) are not only the SAME ijiots of yesteryear but are again in the process of creating another bubble in hopes that emerging markets will lead the new old world out of its mess. The fact that Greenspan just today is saying the upside will come from "remarkable growth" by year end should give you great pause if not in fact scare the crap out of you. These guys are so ffing clueless and so want to drink their own kool aid that I am almost short everything.
But th problem is the volume. Its so pathetic that the agility at which they can squeeze all of the shorts has been making my head spin. So I am a little long banks and a little short DIA or DXD as a hedge.
Millions more foreclosures, falling and stagnant wages and no end in sight on unemployment, will lead a limp dick of a recovery that forgot to take its Viagra.
So caution reins supreme. CASH is KING. And its good to be KING. - Tradebum