- You know how they say the market rhymes? I think with increased volatility, we have shrunken 1933-1938 in half. We are admidst the 3rd leg down of secular bear, which started steathily in July. Nearer are we to May 2008, for a closer example. Which begs the following, why are we comfortable at being at a lower trading range then previously this year with better micro fundamentals? Because the macro environment is deteriorating.
Be careful though, we can seesaw nauseatingly til what I'd like to call the KO punch occurs. It can happen either way, but my nod goes to the bears. At this point it will be hammertime.