| |||
It's happening again… the sneers, the nasty e-mails, the public ridicule… And that's just from my friends. "How's that big stock market decline working for you?" my friend Mark asked me yesterday. It's not working very well, of course. The S&P 500 has worked methodically higher since I started banging the caution drum a few weeks ago. The S&P 500 closed near 1,400 yesterday – up 2.5% in just the past month. So despite warning signs from the Volatility Index, the NYSE and Nasdaq Summation Indexes, and the McClellan Oscillator, owning stocks has been a profitable strategy. Hence, the public ridicule. Of course, that ridicule occurred back in April as well – when ... |