Saturday, 1 September 2012

Today's US market shows what Fools we are! It is bullish still...

Dear Friends,

Market at one point today is up more than 100 points. Currently at mid noon, it is up 80 points. Yesterday I published an article. In the article, I mentioned:
"As a contrarian, I think maybe 2moro might not be that bad afterall. The market always can be fickle minded and go against what most of us think. If Ben Bernanke gives any hints that is enough, the market might go up instead of being disappointed."
That is really what the market reacts. No QE this time has already been factored into the market. Nobody in the world wide world thinks that we will have an announcement today.  Well, it always makes sense to do the opposite of what we all expects. 
And that is the reason why we constantly get slaughtered in the market. Because we think like normal people.
Today, Ben Bernanke did not specifically mention when to have QE, he just "hint" the market again. Ha, off the market flies. Gold and Silver also goes up...
After these few days drop, my opinion is that the market might be rebounding next week, probably until ECB meeting on Thursday. 
Short term, I think it will be a good week ahead until Thursday or Friday.  
Mid term wise (2-3 months), get in the market as there probably wont be a better chance until election! Even if next Thu dont have ECB, and Friday non farm payroll is bad, market will still come back as we will "STUPIDLY" continue to believe that next time THEY (Ben or Draghi) will say it!
Let us continue to be these stupid fools! As long we make $$$!
Statistics have shown that in election year, there is a 70% chance the high occurs in the 4th quarter! I suppose this year wont be different!!!
Regards
www.danielloh.com

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