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JOSEPH SALUZZI AND SCOTT BLACK

Two great interviews here.  Saluzzi nicely summarizes my thinking on this market.

And Scott Black

One comment
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    Onlooker

    Good video clips. I don’t want to just run around cherry picking things to confirm my own views and bias, and I’m trying to stay objective. It’s certainly true that the easy path right now is to go long. The speculative froth is showing though as the momentum crowd lurches from one low priced junk sector to the next.

    I guess the trend is so strong right now that we need to see capitulation on the up side, which suggests a parabolic blow off. That will more likely lead to a sharp sell off though as the momentum crowd shifts and there aren’t many strong hands in the bull camp.

    It can’t be denied that the arguments coming from the bull camp are very thin and full of hope. There is no acknowledgment of the extremely damaged economy and what that means for future growth in earnings, etc. The best argument you get is that the market knows all. Which is so easily refuted.

    It’s truly fascinating (and somewhat horrifying) to watch this bear market rally phenomena play out. It makes it much easier to understand a ’29-’33 chart. Not that we’ll see the same, but we’ll make our own history here it seems.

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