The markets are fascinating these days, oscillating in a specific range for months at a time. On one hand the real economy continues to deteriorate as unemployment remains stubbornly high, housing continues to falter and inflation is troublesome in areas like gas and food. One the other hand, corporate profits are skyrocketing from cheap access to credit and revenue globally. As such, you have competing forces in the market.
I believe this will remain in place for some time until a major event (likely a negative one) pushes the markets into a real move. The major event could be a soveriegn default or something like a credit downgrade for the US. Perhaps, it could be a failed Treasury auction. We will see.
Until then, it makes sense to be patient and stick to your strategy. You do have a strategy don’t you?
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