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It's All Greek To Me, By Howard Marks of Oaktree Capital Management
In other words were knackered.
"anyone who invests today in a pro-risk fashion out of belief in the recovery must be confident he’ll be agile enough to take profits before the long-term realities set in"
Right on, Mark. I'm lean, I'm mean, I'm an agile machine.
Just let me know the week before that reality is scheduled to set in, and I'm on it. I'll short the market so hard it won't know what hit it.
EVERYONE thinks they can time that stampede to the exits just perfectly. Good luck with that.
Well, everyone-1 at least. I certainly don't.
Are you more agile than a HFT computer with a 10-foot wire into the exchange? I recall that ZH has had stories claiming that 75% of volume is now executed by programs. If that's even a little bit true, those programs will be out the door before you can even log on to your brokerage account.
I don't think anyone's that agile. Long-term realities don't need more than a microsecond to set.
what is real?
"rising corporate earnings and the likelihood we’re already in a recovery."
What? What's he on?
Shallow thoughts I'd say.
I suggest going to your bank and asking for their holiday schedule...
look at this morning's market
ramped 200 pts on NOTHING
well, nothing except the G7 currency-linked control program
eur/yen surged about 2% (what a joke the G7 currencies are now jeez)
stocks surge...mysteriously...about 2%
dear G7 banksters: eat shit and die please
You had some hedge fund trader bozo saying the other day , "oooooooooohhh don't buy it", now you go this bozo, saying "oooooooooooooohhhh don't buy it". And yet, the market is up. As useful as it might seem to have a chorus fighting the tape, can you occasionally air the views of somebody who is on the right side of the market?
I mean, this "all bearish all the time" crap gets old. We've had the panic selloff already in '08, most people already sold(at the bottom). Even if the market doesn't go up, that's still the way your 'sposed to bet.
don't look now but something is happening.
SPY @109.64; above the 50dma @108.81; bangin on the weekly 50dma @109.89. above that next major resistance is weekly 200 dma @ 1213.
DIA @102.63; above 50dma @ 102.09; above weekly 50dma @ 102.37; next resistance is 200 dma at 10397. weekly 200dma is at 11069.
QQQQ @ 45.85; above 200 dma @ 45.40; above 50 dma @ 45.27 with no other major overhead resistance.
the real action is in asia:
FXI 41.16; overhead resistance 200dma @ 41.48.
EEM 40.75; above all moving avg resistance.
EEB 40.81; overhead resistance 200dma @ 41.01
is it real? is it sustainable? who knows?
is this a real move or just more pump and dump garbage time?? beats me. but for a leading indicator that the 'risk on trade' is back in fashion all we need now is for Leo's solar's to go ape shit.....in best case breakout/blow-off they could have, maybe,..as much as....15% upside or more...???
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