Not so sure it can make it to 1000, but if it does, I’m shorting the hell out of it. This is all hype and emotion. Big Obama is not going to save the economy although I do believe that he will do whatever he can to slow the bleeding. It will plug holes, but we are in big trouble. Something tells me this rally is going to stall out soon – somewhere between where we are now and 950 on the S&P. Watch the bond market for clues. Thought yields would rise a lot more (as bond traders participate in the rally) – they didn’t.
If anyone takes a few minutes to think about Obamas proposals, they will realize it is going to take a lot of time to implement and a hell of a lot of money. We are in crisis mode right now and not thinking at all about the ramifications of the actions we are taking. Wait till all those bills start to come due…then what…how the hell are going to pay for all this? Keep the printing presses going.
