Just Buy The Dip Fool

The buy the dip mentality is becoming self reinforcing. I suppose tomorrow we will see people starting to front run the Monday move higher in the market because its 100% guaranteed that every Monday will be up. I believe this is setting market players up for a huge surprise at some point. I have to go find a street corner where I could hold up my "The End Is Nigh" sign. Have a good night.

7 comments:

Anonymous said...

Look at the put call ratio!
http://www.indexindicators.com/charts/sp500-vs-put-call-ratio-equity-5d-sma-params-x-x-x/

I feel like I am losing my grip!

Is everything fine? Or is this April 1930?

PJ said...

The real-time economic data is starting to turn south, which if it continues will bring a quick end to this cyclical bull. But you're probably right about Friday and Monday.

Anonymous said...

Today I was blown away by the Nevada gaming data.

They are saying strip revenues were up 38% yoy in February 2010 and are almost back to 2007 levels. Even though January 2010 was lower than all three previous years.

PJ said...

Heh. Gambling is leading the recovery.

I'm not sure if that's a positive or negative.

Anonymous said...

looks like c is going to be an easy double.

CP said...

CBOE just updated today's equity P/C ratio.. 0.47, even lower than yesterday.

Anonymous said...

Woohoo! Stocks only go up in the long run! Dow 36000 here we come! Eat my dust you poor shorts!!!