As strange as it is, there are really bright individuals out there that believe that this is indeed just the beginning of a very legitimate and solid recovery. There are others that recognize the Fed has little to no choice and rates will be pegged to the zero for some good time to come; thus a wickedly higher market. And, there are those that just struggle every day grasping for some clue as to why the market has seen such stellar performance since last March.
My personal bias is that things will indeed fall apart again; but, not just yet. As always, I’ll reevaluate as needed. The purpose of this post is to take a quick look around at what a variety of other writers, traders, and economists have to say on the subject.
So, without any further explanation, I’m presenting a quick synopsis or sample of seven individuals whose opinion I respect:
- Larry Williams: Expressed this week that he is staying out, looking for a long in the next couple weeks. (~Bull~)
- Robert McHugh: Believes that dooms day is perhaps a week or two away from starting. (~Bull~)
- Bill Cara: On Monday indicated he was bullish gold and silver miners. (~Bull~)
- Bill Gross: “the six month rally in risk assets… is likely at its pinnacle.” (~Bear~)
- Paul Miller: “I certainly share that view that with consumers deleveraging at considerable speed, with unemployment still rising, bank credit still contracting, and capacity utilization very low, the recovery will lack vigor. But that’s no the reason for my unease. The financial world has not been reformed.” (~Bear~)
- Barry Ritholtz: “Given the recent market action, I am now starting to pull in my horns a bit, as this rally looks to be getting a little tired and showing signs of technical deterioration… This is not a major call, it looks to me like more of a minor reversal.” (~Bear~)
Needless to say there is a strong confluence of game changing contemplation in the air. What would you expect for the last week of October?!
