Alex Filonov's  Instablog

Alex Filonov
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I was born in 1956 in USSR. After graduation from college in 1979 I worked full-time as an IT specialist. Until 1990 I worked for different companies in the Soviet military industrial complex. I created a small software business in 1991, which failed in 1993. I worked for Oracle Corp in 1995 in... More
My blog:
Muddling Investor
  • Why Is Everybody So Happy? 0 comments
    Feb 5, 2013 4:55 PM

    I don't understand it. Dow failed to retake 14000. Nasdaq composite is still under September 2012 highs. And yet everybody is bullish! That's incredible. In my investment book incredible is a recipe for disaster.

    I wrote before and repeat again that we have macroeconomic basis for a rally through the first half of the year. So yes, I am bullish too. But such sentiment gives me jitters. We had an attempt of sell-off yesterday. It was almost erased today. But sentiment is way too strong.

    I don't want to move either way right now. Just some opportunistic trades, that's all. My cash cushion is big enough. So in case of a correction I will buy selected stocks. In case of continues rally I will sell stocks marked for sale in my annual report.

    Where's European panic?

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