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[nimblebear]

What is so very silly about this market is that folks truly believe now that stocks cannot possibly go down. Ron Barron is out now with his forecast of Dow 60,000. Time frame doesn't really matter, as the prognostication is so utterly ridiculous and far off, that even I could more easily prove and justify Dow 3000. Our currency is worth such trash that at any moment, when just a few derivative deals implode, the entire market gets sucked into a vortex that is unrecoverable. I know right now this is impossible for any of you to wrap your mind around, but seriously folks, your technical charts become meaningless, as soon as these derivatives are triggered nobody of course can know in advance what that trigger might be. Some speculate its interest rates. Personally I feel it is going to be something much more benign, that is now viewed as totally harmless. People might suggest (as I have previously) its all the debt. Well we are well beyond that as a causal event, as Japan has gone way beyond what would have been considered reasonable ratios, where defaults begin in earnest. My folks were complaining about their bond losses last month. How many millions of seniors felt the same way! They are all frozen like deer in headlights, as the bond bull that's gone on nearly 40 years now, has everyone trained to believe it's the only "Place." None of these people Would EVER consider putting 80% or some significant portion of that money into something like precious metals. That's not even viewed as a choice. That's how brainwashed 99% of our society is. When you have a 40 year imbalance like that in ANY asset class, let alone multiples of asset classes like stocks and bonds jointly over bought, over owned, over loved, etc. Then you know for sure, something as over leveraged as derivatives, and dark pools that aren't even viewable or accountable to anyone, then you can reasonably extrapolate with a strong degree of certainty, those aforementioned over loved asset classes are pretty much toast, sooner rather than later. And because of the existence of dark pools, and derivatives, there is just no way possible for the markets, public, or resulting technicals, to forecast the implosion. We are getting closer now with the increasing confident calls like Dow 60,000, and the massive dearth of bears that only occasionally show up in sentiment polls, but in reality those polls generally reflect the bullish of the most bullish, trying to psyche themselves into believing the occasional contrarian feelings means this cyclical upswing will go on ad infinitum.