No Such Thing As A Down Equities Market

Shouldnt every bull here know that this market is being EXTREMELY irrational, I mean everyone knows what happens when a bubble goes pop, right?
 
Sorry, but the word "rational" has no business in the market.


EUR/CHF: Foot Race to Get Back in the Carry Trades
Thursday, October 11, 2007 1:14:00 PM

New York, October 11. Buyers are falling over one-another to get back into forex carry trades, with the EUR/CHF getting more than its share today. The move to new all-time highs here yesterday has pulled in a broader crowd of long-term spec buyers as the cross reaches its best synthetic levels since April 1997, with a little help from the US stock market and decent US economic data this morning. The Dow is now up near 100 points and is making new all-time highs of its own. That new item contrasts starkly with a report from Thomson Financial today that US 3rd quarter corporate earnings are now expected to be nil, which would be the worst performance for the S&P 500 stocks since Q1 of 2002. At the beginning of the 3rd qtr earnings forecast were at +6.2% The rally in stocks from their August lows were ostensibly based on those rosy forecasts. Now we just have the 50 bp rate cut from the Fed to account for the surge in stock prices. The question arises: Has the Fed traded in a housing bubble for a new stock market bubble? And if so, how long can that bubble, and the forex carry trade bubble associated with it, continue to grow?
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Credit: IFR Markets
 
Quote from S2007S:

Shouldnt every bull here know that this market is being EXTREMELY irrational, I mean everyone knows what happens when a bubble goes pop, right?
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Its a seasonal thing, holidays are right around the corner, market ain't going down thats for sure.
 
still 1 hour 50 minutes of trading


market will rebound, losers

cover now

no one making money on this dip

shorts are scared shitless

they will all cover at smallest uptick
 
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