Unfortunately it won't be a laughing matter for many investors landslide (an apt name given what looks increasingly likely to unfold during 2010). And if safety means a government guaranteed bank term deposit earning some 6-7% pa without exposure to growing market risks then that's one very prudent option.
While equities continue to nudge higher on hope and expectation (and on weakening volume and breadth), markets are becoming acutely overbought by various indicators (TRIN, RSI, Put/Call Ratios, MACD etc.) While VIX (the volatility or fear index) is at its lowest level since June 2007. And when there's growing complacency without fear in markets that's when it's time to get out. Extreme positive sentiment (as measured by extremely low percentages of bearish investors and advisors surveys) also indicates that a market reversal is near. While in the bigger picture, technically we look to be in a replay of the double-top of 2007.
The current 'Goldilocks economic view', on equally extreme positive sentiment, was last seen back in mid-late 2007. And we all know what happened from there...
