“I feel sorry for all the hopeless bears and gold bugs who read sites like ZeroHedge and believe the market is about to collapse.”
Unfortunately, Longbow, you can get out your violin for me. because I am one of those bears you are referring to, I’m sorry to say. Although I was never a ‘gold bug’, at least not by the conventional definition.
I only glance at the weekly and monthly economic reports now, leaving the ‘analysis’ to someone else. Nothing seems to matter except those 85 extra billions from the Fed.
Hopefully there’s still time for me to change my ways...
Just don't take your eyes off your positions. In fact, it's best to just take the hit on trading fees and close them out every day - the headline risk in the Obama era of indifference to Islamic radicalism is very high. And get the obsolete buy-and-hold thinking out of your mind - in this aristocracy of pull, today's high-flying CEO can piss off the government at any time and become tomorrow's felon, even if his books appear perfectly sound.
Me, I like the blackjack tables in Las Vegas better. At least the rules don't change by the minute...
I don't disagree with this, but there is a lot of money to be made because of it.
There are a lot of fanatical bears that hang around on sites like Zerohedge and convince themselves that everything is going to implode tomorrow. They hate Obama (and fiat currency) so much they can't imagine anything good could occur under his watch. Obama is indeed a terrible President, but he and Bernanke have been great for stocks. This market may be headed much higher still.
I think we can look at Europe and see that it is possible for debt ridden economies to kick the can down the road much longer than people assumed.