Thursday, September 24, 2009

Market extended, stretched, and overbought

We have had a few real bad scare days. One on Sept 1st, one on August 17th shruged away.

The market is extended, stretched, and overbought, but refuses to give ground. There are a lot of analyst saying this market cannot be for real, it is government injected. Pundits are saying the market cannot hold this move because of the economy is not up to snuff. This is all good news. There is a clear lack of acceptance and that is what makes bull phases continue.

I have no idea how lost this lasts or how far it goes. However, we do know if they can't sell it, they will buy it. This is the nature of the market that many fail to understand. Whatever the market is saying, I really can't call it. It is what it is and there is no use fighting it. I have tried and I've lost. It's been a very painful lesson. Case closed!

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