A Bourse Diary

Thoughts on stocks, speculation and ... life

Monday, August 14, 2006

Not bearish?

The Big Picture titles a recent post "Mirror, Mirror on the Wall... Who is the Most Bearish of Them All?" and, astonishingly to me, states there are just few bearish voices in the market.

I see it definitely other way: the bearish argumentation is making its way through the public. It may not be that convincing yet, though all recession-inflation-high energy-collapsing dollar concerns are well known and massively discussed.

The still mainly positive news counteract the psychology somewhat and I will suggest that there is some more way of (some) pain ahead. If more signs of cooling economy appear and at the liquidity situation, which can't change that rapidly, the downward pressure could increase.

But sentiment is maybe cooling off more rapidly than fundamentals. I do not see more optimistic voices than pessimistic (which of course call themselves realistic).

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