The put:call ratio, the best timing indicator I follow, bar none, is giving a screaming sell signal. Are there any bears left to take it?
Indexindicators.com
Sovereign Speculator
Thoughts on the markets and economics from a lone, wandering participant.
I’m still here mike
Though away from my workstation until tomorrow morning…
the CAD seems ripe for selling as well…
I’m still here but definitely glad the trading account was mostly in Dec 2011 paper the last few months. Still slowly building the positions.
I have my finger on the trigger.
As measured by the junk/investment grade credit markets, optimism now EXCEEDS that of 2007. Junk bonds are now more richly priced relative to investment grade than they were at the 2007 peak: http://www.financialarmageddon.com/2010/03/2007-redux.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+financialarmageddon+(Financial+Armageddon)
Mike, I really appreciate your macro perspective — but not your market timing. Unless, that is, you want to carry a position that runs 20-40 points against you before it turns in your favor.
There may be a correction in this rally, but only about 20-30 points before it resumes its march toward 1200. The big correction isn’t here yet. Maybe after May. Maybe after an obvious trigger in the markets. Who knows? Until that happens, my bias is long S&P as long as money remains cheap and chart structure changes.