pelín sarcástico ... jejeje .... ahí os lo dejo ...
What an amazing bounce the market just experienced after the "big" 6% correction. The bear camp just got hunted right back into their caves to finish hibernating. But have we come back too far, too fast?
I think so. I was looking for two realities to take hold after the breakdown below S&P 1750: (1) an acknowledgement among money managers and equity strategists that the bull had run a bit too far ahead of the economy and earnings, and (2) a "re-set" of investor expectations that buy-the-dips wouldn't be so easy this year.
We needed a tempering of risk appetite and a cleansing of easy-money margin trading. It might have been far healthier for this bull to wash-out the weak hands and let the strong ones slowly wo rk the market back up from 1700. But that wasn't how Mr. Market played his hand.
And now that you're wondering if I'm ready to sell this market, here's the punchline...
I wouldn't sell this market with Buffett's money! This kind of strength means the pent-up demand of fund managers is still very hungry for risk in equities. What's in store now is most likely some sideways digestion of the bear feast. And that makes me a buyer of dips back to S&P 1820.
