In the past two months, the Dow has gone up three out of every four days. Last week, it closed above 11,000, a level it hasn't seen since September 2008. Little more than a year ago, it was near 6,500.
Ninety percent of the companies in the S&P 500 index are trading above their average price of the prior 50 days. That hasn't happened since 1994 and it's an indication that prices are elevated.
The Chicago Board Options Exchange's Volatility Index, which is known as the market's fear gauge, last week closed at its lowest level since July 2007.
Fridays are usually sell off days.
The market is doing well considering Business has no idea what Washington bureaucrats will try to pull off next. Locked into self-presevation mode, taking care of business, keeping purse strings tight-remaining conservative, hoping government would just go away.
Government can brag they have brought us back from the brink of financial disaster, but true entrepreneurs of successful companies aka Big Business embracing capitalism, protecting their investors (you), achieving small but steady growth have done this all on their own while overcoming the propaganda machine- Evil Big Government.
One only needs to look at how Greece has crumbled (riots) and in the US, California, the home of the very dangerous, radioactive, hated socialist-Speaker Pelosi.
It seems that people (corporations) that have money to gamble with will always be able to make good. The small investor, not so likely unless there is a 10 year boom.
Now of course, today the investment would be in foreign investment funds. That does seems to be the most profitable for the well to do also - that means that you had better watch your back. They have all the inside information and continue to outperform the small investor.
Sometimes I wonder just why I don’t invest in gold and forget about it... Geez...yea, I’m getting really pessimistic about the market...