recession already factored in to prices, page-11

markets are forwardlooking my arse. Markets are schizophrenic, bipolar idiots, with enormous mood changes reactive to inputs we cannot even imagine.
If you truly believe markets are forward looking we would have been way down LAST year.
AND what you are doing here is rationlising a long position which you have or plan to take.
I have a warning for you, this is a credit crisis which will eventually become a cash crisis. It MUST before we see bottom.That's not to say a chorus of traders like yourself can't take this north for several hundred points. BUt you go long and hold here and you will learn to be more cautious in your advice next time.