Oh My, What a Ride
Despite reports that the U.S. economy seems to headed toward recovery, the people who lay money on it remain as skiddish as ever. I've long felt that those who talked us into the recession are now trying to talk us out of it. Not that that's a bad thing if it works out. But premature celebrations and baiting unsophisticated investors back into the market too early is asking for trouble. The reservoir of trust is very shallow indeed and this is no time for jumping on the bandwagon if you can't back up your bet.
The quick hit, high risk bet mentality is alive and well. Liquidity is hard to come by. Thus, those holding positions long in the market were forced to sell because those with nothing to back them up panicked and ran at the first sign of trouble.
As Wayne Dyer once said.... Don't believe everything you think.
