UPDATE : (still)LONG SPY
I'm still long SPY despite all the noise and BS i see on CNBC. Over the last two weeks, so called "experts" have appeared on Business Television shows, to either call the top and say the market will crash like in 1987 , or expecting the S&P 500 to go up for another 28 %.....Seriously?? My favorite quote comes from Stephen Auth, Chief Investment officer of Federal Investors, AKA "wall street GURU", see quote below
"Market valuations depend on growth, bond rates and perceptions of risk, and all three of those are going in the direction that actually expands the price/earnings multiple. " o_O, What ??? If you have any clue what he just said, please elaborate in the comment section.
I'm keeping it simple and have no clue where the market is going. All i know is that the SPY is still above its 200 MA, therefore I remain long. Trade is up 64.36 % since December 2012.
Cheers
Algo
"Market valuations depend on growth, bond rates and perceptions of risk, and all three of those are going in the direction that actually expands the price/earnings multiple. " o_O, What ??? If you have any clue what he just said, please elaborate in the comment section.
I'm keeping it simple and have no clue where the market is going. All i know is that the SPY is still above its 200 MA, therefore I remain long. Trade is up 64.36 % since December 2012.
Cheers
Algo
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