"Bears Put on Endangered Species List; S&P up 9.6% in 3 Weeks - NASDAQ up 9
Straight Sessions
The bulls are in a mad orgy of buying at this point.
It appears to be the exact opposite of a selling panic right now - a buying
panic. I hesitate to see we have not seen action like this in a long time
because frankly there were a few runs like this in 2009 which also left the
mouth gaping. While the NASDAQ rally of 1999 was epic, it was rarely if ever
straight up like this - the upswings were very sharp but every 6-7 days you'd
get smashed to pieces with a -1.5% down day (and those specific momo stocks
would drop 5-8% instantly). That kept you honest. But that was the era of human
beings with emotions. This is just emotionless drones buying and overbought
means nothing to them I guess".
Shocked that companies and mutual funds would invest OPM (Other People's Money) in high-risk investments, the Shocked Investor was originally on a mission to find out if our money ended up in these dubious instruments. This blog now also discusses other financial topics, such as straddles, options, gold, natural gas, agri/food stocks, and the collapse of the US Dollar.
Monday, September 20, 2010
Bears Put in Endangered Species List; Bulls in Orgy
Love the headline from fellow blogger Fund my Mutual Fund (TraderMark)
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