We didn’t bottom tick it exactly, but we almost did with our market model switch to neutral… we also got lucky exiting SIVR at around $29 after buying it for around $28 or so…All in all, the bears are running scared right now because of the TA and the chart setup… We will likely see some more action at the 50 day moving average and could very well see a resumption of the bear leg down toward more reasonable price to peak earnings multiples… Until we get a break either way we are sticking with our “sidelines” call.
I saw nothing in this weeks “Just For Men Ben” minutes that excites me regarding the money printing so I cannot recommend that people speculate on a fully valued stock market even though the technical chart signals look quite promising for a continued rally as we have discussed here for some time.
Look, many of the best and brightest in the hedge fund community think technical analysis is a complete waste of time and a total joke. I think that it works because enough traders and robots think it works and their thinking makes it so… Either way we want to blend solid fundamental and technical analysis here for our readers. Look for a new series of SeekingAlpha.com articles by us in the near future as we will be returning to our desks for the rest of the sleepy summer trading session and the fireworks that this fall’s election season should bring to the stock, real estate, currency, and commodity markets.
Right now our favorite place to invest is in real estate. If you are super wealthy, consider buying a private company where management is willing to stay on board for a few years. Also, don’t buy something that is “for sale” — many times the guy trying to sell you the hardest is desperate because he knows business is slowing just around the corner and wants to find a bagholder. In other words, it’s very easy to sign up a seller who knows the end is near for their enterprise.