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August 22, 2008

Fearless Warriors, Those Bulls

A bull has nothing to fear but lack of fear itself. Just in case you missed it, here's another look at the nasty sell-off in equities that took place from May into July of this year:

stock chart

Must have got the bears excited, eh? Lots of people getting scared, buying puts for either insurance or speculation? Volatility and doomsday fear spiking through the roof?

Nope.

market indicator

market indicator

Add in the fact that Lowry's selling pressure continues to set new records even as we rally (thanks, Gary), and I have a hard time believing we've seen the worst of 2008.

 

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