redbacka's - boom boom tuesday, page-129

hi topsy

i will be the fiftieth (sorry, haven't been counting) to admit that back in 07 martis had the last laugh. which is why i am now so fond of the guy, and always make sure to lace my posts with plenty of outs and a healthy dose of irony.

having said that, i think we are all benefactors of cointoss fortune, and never attribute much personally to those who are blessed by the outcome, so i still stand by my interpretations of "what the heck is going on".

what have we, if not our own beliefs? in the end, it is all about the delivery.


now back to the context:

back in 07, everyone claimed that the mining clad bullet proof bull market would continue it's stellar trajectory, come what may. surprisingly to everyone, credit defaults is what came, and the least chink in our armor was suddenly a vast cavity through which instability would flood in and undermine our fundamental valuations of everything that withstood the debt test.

now, here we are in 11, surrounded by convincing arguments for why the end is just beginning. it is all too familiar, only in reverse.

i cannot fathom a single reason WHY we should begin another rally, and that is good enough for me.

that, and the technicals. higher low and higher high are hard to argue with, even if only in the short term