Confessions of a Former Bear

Well, it's official.

NYA clears to a new, 2-year high.  And a weekly close to boot.

Bears continue to get firehosed by the Infinite Fiat spewed forth by the "The Ben Bernank."

For those who constantly diss the 5 posters here who remain bullish on stocks, I present the following Xtranormal video which documents how I dropped my "Permabear" status back in 2004, and learned to follow the tape instead.

Furthermore, I retired in 2009 and started trading stocks for a living, which means I became a "Robot Trader", following the direction of the tape, which is essential to survival as a trader if you are engaged in it full time.




Now let's check out the market condition:

Financials have cleared to new highs for the move:

Retail stocks still strong:

Absolutely no reason to be bearish right now.

Anyone thinking we are near a market top with full retail participation?  I suggest you get a copy of Bill Fleckenstein's Mania Chronicles and read about the booming job market, ultra-strong economy, and wild-eyed fascination with stocks going on in 1999 - 2000.

We are nowhere near that.  People are still negative on stocks.

As long as we have this wall of worry, its all good for equity investors.