Saturday, April 11, 2009

50% Retracement

What do you get when you mix the most oversold stock market conditions in history with bottomless stimulus and a bottoming economy? You get the mother of all 50% retracements that will likely lead the S&P to the 1,000 range (or even higher) and suck everyone back in for the next leg down. Believe me, I'm bearish longer term because I think demographics make our fate inevitable, but you have to listen to the market. The market is telling you it believes the worst is over. Now you may disagree, but it's going to pay to voice your opinion later rather than sooner. The market will tell you when it's topping and ready to head back down. Until then, BUY MORTIMER BUY!!!!

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