Remember those tee shirts. I think thats what best describes market participants attitudes. I really believe that market players are becoming more comfortable with the fact that NOTHING will slow down global economic growth. Wars, terrorist attacks, high oil etc. Everything just bounces back and thats when it is time to be more cautious. Everything I read from Dr. Brett and jason at sentiment trader says that we should have bought the dip and they were correct, but is a V shaped recovery what we want to see? I would prefer a long slow base and then move higher. Sell in May and go away! Maybe.
Stocks gapped down this morning, but dip buyer immeadiately came in to scoop up bargains.
The yen had a decent move overnight and I was long 5 futures, but covered because it just never seems to get legs.
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