I've often called my friend Duru a perma-bear because, well... he has been just that. And just when I thought he'd become a full-fledged bull, he writes this latest missive and proves me wrong. It seems that we're always diametrically opposed on our long-term view of the market. I'm a bull (believe it or not) as long as we're above the 200 day moving averages on the indices. But the good Dr. Duru is looking for another 'fall in the Fall (Autumn)', as he's called for the last couple of years. Yet while I've been calling all kinds of tops during this rally, he's been rightly buying.
Anyway, the article is worth a read if for no other reason than to see him say 'economic mumbo jumbo'. Yes, his voyage to the dark side (technical analysis) is almost complete.
Ah, Mike...you are killing me with kindness! ;) Let it be duly noted that every Fall during this bear market has had its own shade of ugliness. I don't think this one will be any different. But I at LEAST am not calling for absolute mayhem THIS time around... (contrarians...that means look out below!)
the october cycle is nearing, so it's a good time to be a bear.
And of course you're the other perma-bear that I know! :-)