A Glint of Realism
A little good news as Washington Healthcare battle continues. Here is today’s NYT article on deficit reduction.
Todays market and the market over the past six months is one marked with lackluster volume. Three reasons seem obvious to me: 1) Regular investors are still shell shocked by what happened in 2008 and have done nothing in their portfolio in the past three years, didn’t sell during the crash, didn’t buy at the bottom, and are not buying the rally. They are just grateful that somebody has rescued them; 2) Traders/investors such as myself who got out or got short in 2007 because the market was overvalued and in a bubble, bought the bottom in 2009 but got our way to early when the market reached a semblance of value and now are watching; and 3) Speculative momentum traders took over in October 2009 and are waiting for some group to step to the plate and buy their overvalued positions.
What is there to do but wait and watch how this plays out?