From Michael Kahn’s Jan. 19 column at Barron’s:
It appears the stock market is finally firing on all burners despite a raft of problems still facing the global economy. … But don’t get complacent or enthusiastic about this rally. While stocks have pushed above short-term technical resistance levels, they are far from being in the clear. And I see no reason to alter my longer-term analysis that pointed to a tumble into the middle of the year. … Market cycles point lower while the ratio of buying-to-selling pressure suggests inherent weakness. The current short-term rally … does not look sustainable. It may be premature to sell the market, but preserving capital is still a good idea. Better buying opportunities still lie ahead.
From Anthony Mirhaydari’s Jan. 18 column at MSN Money:
It’s a false dawn not unlike the one seen in early 2008 before the meltdown started. The volatility behind all this is set to continue for at least a year. The good news is that we could see the return of a 1980s-1990s style secular uptrend for the stock market as soon as 2013.
From Mark Hulbert’s Jan. 18 column at MarketWatch:
Bullishness over the last 106 days has risen more rapidly than was the norm from past bull markets. … It’s worrisome when 3 out of 4 sentiment measures suggest that the bulls are jumping back on the bullish bandwagon at such an above-average pace. They reinforce the picture of complacency that the sentiment data have been painting in recent weeks.
2 Comments
Did you delete all of the comments on
From Sunday’s Kelly Letter on 1/17/12?
They are all gone now.
We’re redesigning and moving things around. Comments are now per article, and we’re moving general discussions to the new Forum section where they’ll be easier to find, track, and so on. I hope to get historical comments left from the former general home page comments section into the new forum. I’ll post an article once the redesign is done. Thanks for checking!