Make No Mistake

Make no mistake, this is a bubble market, thanks to price discovery broken by automated trading, irresponsible goverment. Financial and fiscal stimulus is masking a declining economy. One day the mask will be stripped aside. Take John Hussman’s warning seriously.

What I am adamantly against is the idea that speculators can successfully “game” overvalued, overbought, overbullish markets – particularly in the face of numerous hostile syndromes, near-panic insider selling, speculation in new issues, and broad divergences in market internals, all of which we are now observing.

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