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Market Wrapup is delivered...

Lazamataz: just ran into these postings about a week ago. Who is Puplava ? Is that you and your monicle is Lazamataz ? Great knowledgeable reporting. Was wondering though, what is keeping gold down ? I clicked on your thread yesterday on the two essays but the page couldn't be found.

Truthkeeper: I would say it's not being smart but seeing what is the truth and what is the noise and chaff. Once gaining this viewpoint one must really stick to it. This market is played by the very very powerful (very very rich or in control of huge sums of money) and those that don't stick to the basics and get pulled off by the media, the pumpers, and the huge hoards that don't know what they're doing and wind up getting jerked everywhich way. This is a very large group and essential en masse have as much if not more money and power as an aggregate. This group and those very very rich often get going in different directions and not for reasons of just because but because it's often part of the plan (the bear trap earlier this week). This usually doesn't last too long and the rubber band between the two snaps. When this happens the huge aggregate of nonundertanders usually gets tromped. No I wouldn't call the winners smart, they are the really big money that are the market makers and not the market followers, quessers, predictors, opinionators, etc. I watch what market makers are doing and the fact that no company on this planet deserves a P/E above 20 under the current growth rates and P/E's over 30 are ludicrous. Just figure, at 7% expansion and growth of business per year (in good years, not in the last two years !), how many years would it take a company to grow and match a 20 times P/E if it ever could (depending on what market it is in). Yes it really was a bubble when P/E's were in the area of 100+

Getting back to basics, since for no discernible reason the market went up, there is one remaining law that irrefutably applies, "Newton's Law of Gravity" Oh....just as a parting thought, looks like sacrificing CEO's to the Gods of the stock market is now a dead issue.