Stocks soar, “It’s Waterloo for the bears”. Take your pick, politics, houses or stocks. I’m a contrarian by nature and when the same idiots who brought us Y2K, BioTech, Dot.Com and Collateralized Mortgage Obligations start yelling about a bull market, I punt. Your opinion may differ.
UPDATE: Mongo have great pain between ears. According to this guy, traders he spoke with today insist that we’re seeing suckers rally and the market will drop off a cliff next week. So the contrarian should buy against that sentiment, right? I’m sticking to real estate.