YOU WANT 1250 ON THE S&P 500? 2012 MAY BE YOUR YEAR. IT WON’T HAPPEN IN 2011.
This is an angry market. It feels angry. It looks ugly. It wants heads. It wants hearts.
It feels like a market that has trapped a lot of traders, fund managers and individual investors. The foot of the market has been implanted firmly on the neck of an entire group of bulls and it seems reluctant to lift its weight off.
How I imagine the stock market looking
Those who have been struggling under the weight of the market have only one goal at this point: To stop the pain by raising cash or hedging their positions. The market knows this and keeps dropping the ball further and further down the hole so that those investors who are stuck will have to climb from deeper and deeper depths.
This is exactly why I don't think we get too far above 1200 on the S&P 500 again this year. There are simply too many looking for their savior in the form of higher prices.
In order to be saved, you have to be liked. And if you're into being liked, then the financial markets are the last you should be. I hear the tuition at clown school is pretty cheap though.
