Quote from S2007S:
Im still about 80% short, not going bullish anytime soon, might go bullish around dow 7500 but until then im sticking on the bearish side.
I hate repeating myself but the ONLY reason the market is UP is because of free monopoly money, programs for $8000 tax credits, free money for cars, unemployment benefits lasting years, programs to keep foreclosures down, ZERO % INTEREST RATES, Fed buying MBS like never before, TARP and TALF and every other XYZ program in between. Please do not go and tell me the reason why the economy is showing signs of improvement is because everything is better nothing is better, everything is being ARTIFICIALLY PUMPED UP, why don't you comprehend this. Do you honestly believe the economy would be where it is today without all that worthless monopoly money floating around, they are creating another asset bubble to keep things going because that's the only way to create artificial demand. The whole economy is upside down at this point, you can believe what you want but the truth is that this crisis is not even close to be over.