You've been saying this since the dawn of time and the only consistent thing about this prediction is that nothing continues to happen. If you have been short since you started calling it then you are now so far in the red that your broker now owns your house. If you have not then you obviously don't fully believe what you are saying. With a new high confirmed in the US, resistance has become support, and the decline in housing means that investment dollars are flowing out of housing and into equities again. It's merely "sector rotation", the US equities market has underperformed for the duration of the housing boom. Demand from Asia for commodities means that we probably still have 15 years left to run of the current boom, if the Japan experience was any guide.
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- blinded bulls as thick as bricks.
You've been saying this since the dawn of time and the only...
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Gerard O'Donovan, Executive Director
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