Wednesday, February 1, 2012

Tops

S&P is about 15% from the 1550ish high in 07 and everybody has agreed that was a ridiculous super bubble, stupid, evil, etc.  But we're 15% under that and since in January the S&P was up 6% it might not take that long to get back there.  At the same time Treasuries are at an all time high and with Gold in the 1750 range and Oil just under a 100 it looks like no one can lose.  I guess central banks can save the world,  O except housing.  We're in the bad is good, low GDP doesn't mean no growth, it means the Fed will inject money and that's good for stocks.  Wait what?

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