Thanksgiving Rally and the Slope of Hope
Is it me or does absolutely everyone seem to be expecting a Thanksgiving rally? Well, as we all know, the market NEVER does what everyone expects.
I'm also very concerned with what I see on Bloomberg and CNBC. No one is panicking and it seems that every "expert" they bring on is declaring that stocks are on sale and should be bought here. No one is talking about a bear market.
I like shorting stocks but, for the sake of my friends and family, I don't want to see a protracted bear market.
2 comments:
CNBC is always like that, though. I don't think they're an accurate measure of sentiment. Surprisingly, the new Fox Business Network has been more upfront with market action in recent weeks, rather than cheerleading every dip as "the bottom."
There is plenty of fear out there, as measured by the put/call ratio and Investor's Intelligence survey.
Sentiment is such a difficult thing to gauge. I just sense that there isn't the fear out there that is needed to find a serious bottom. Hell, I'm not fearful yet. Maybe that is what concerns me.
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