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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1 Comments:

At 5:08 AM, Blogger Barry Ritholtz said...

Actually, I posted that when the Dow was up 100 points and the short term background noise AT THAT MOMENT was uniformly positive.

It was a time sensitive observation.

A few hours later, the market gave back most of their gains. But at that moment, the commentary was fairly cheery based on the middle east cease fire.

 

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Disclaimer: All ideas, opinions, and/or forecasts, expressed or implied herein, are for informational purposes only and are in no way intended to serve as personal investing advice and should not be construed as a recommendation to invest, trade, and/or speculate in the markets. Readers should not make any investment decision without first conducting their own thorough due diligence. Any investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied herein, are committed at your own risk, financial or otherwise. While the information provided is obtained from sources believed to be reliable, its accuracy or completeness cannot be guaranteed.