Monday, May 07, 2007
Shorters: Hold Fire. We can go higher yet.
marketwatch: Editor sees U.S. stocks going parabolic like Nikkei of 1980s
Gartman draws this moral: "We must remember that when markets go parabolic (and they do indeed go parabolic from time to time) it is important to remember one of our oldest trading aphorisms: that the final 10% of the time frame of a bull market can, and often will, encompass 50-75% of the price movement. We may be in that environment now. Things seem to want to go "parabolic." What may seem like insanity may be nothing more than history repeating itself once again."
Posted by sold 2 rent 1 @ 09:00 PM (159 views) Add Comment
2 Comments
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1. harold said...
I agree with this view, although I prefer the term "exponential" to "parabolic". Although parabolic is good, as it rhymes with diabolic. China is adding 200,000 new investors/speculators a day to this bubble mania, see: http://www.marketwatch.com/news/story/chinas-irrrational-exuberance/story.aspx?guid={D93E4169-55AF-4565-B978-7E0E4863529C}&siteid=yahoomy
Thus guy agrees too: http://articles.moneycentral.msn.com/Investing/ContrarianChronicles/BadNewsThisBubbleIsWorldwide.aspx
2. sold 2 rent 1 said...
"The average price-to-earnings ratio of Shanghai and Shenzhen markets is now over 50. "
Anything over 28 is considered to be a bubble. Where's that crash helmet.