The market reads 6 months forward on average, so earnings over the next 6 months are already locked in ...
.... so the line of indecision we're hovering over, (which, interestingly, coincides with long term support at just below 8000 on the DOW) is created by the push/pull of pessimists who believe we're in for a depression, and optimists who believe we're in for a recession which, by the 13 month average, should move into recovery by the 3rd quarter ...
... and me?
... I think this is a traders market. Anyone taking long term positions on anything other than a company trading below its cash balance is asking for serious stress.
... and a 20% rally? Maybe ... but then ... maybe not.
