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A Man of Wealth and Taste
Join Date: Dec 2002
Location: Out there somewhere beyond the doors of perception
Posts: 51,063
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Aothernother Fine Mess Waye Has Gotten Himself Into
Hmmm I do recall Wayne decided to pull his investment in the Stock Market about a month ago. The SP500 was at 1045 at the time. Since then the Stock Market has done NOTHING BUT GO UP...Today the SP 500 CLOSED at 1148...
I also recall stating at the time that the SP 500 at 1040 was it's support level and thus represented a bottom of the trading range...Well the Market has blown through the upper end of the trading range and is poised to go even higher.
Now why is this....Simply the M2 supply has been increasing..and that money has to go somewhere...
On Friday morning I was listening to a Mr Tepper of the Appaloosa Group who has 12.4B under management...and has a history of making 20% + ROI...He is Bullish for 2 reasons...The economy will get better on its own OR the Fed will institute QE2..which in affect is called printing money...Either way that liquidity has to go somewhere...and that somewhere is the Stock Market..
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"Some Observer"
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