As you know I place great emphasis in determining public attitudes towards markets and using this determination as a basis for a contrary approach. Here are my contrary opinion posts.
This morning the New York Times had a front page story on the stock market. It appeared "above the fold" and was headlined "Inflation Rising, Markets Tumble".
I want to point out that the last time the NYT had a front page story on the stock market was April 21, 2005. The story's headline was "Inflation Fears Pummel Stocks; New Lows for '05". Sound familiar?
On April 21, 2005 the S&P 500 closed at 1159.95. Yesterday's close was 1270.32. Two weeks ago the average was as high as 1325.
Draw your own conclusions.
No comments:
Post a Comment