Thursday, June 15, 2006
So it looks like I was right in calling Wednesday's bottom (though perhaps only temporarily right). Unfortunately for me, I didn't get invited to party as the market surge left my portfolio in the dust: only up 0.6 percent between today and yesterday, compared to nearly 4 percent for the Russell 2000. Sucks.
You were only up 0.6 percent because your stocks also weren't down as much as most other stocks during the plunge. Anyway, it won't matter as you've made clear you won't sell into this rally, and this rally won't go back to former highs this year. Once you see this rally followed by new lows, then you'll begin to see the cyclical bull of 2003-2006 is over and the secular bear market has truly re-asserted itself.Post a Comment