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Do Stock Bulls Really Believe the Market Must Always Rally?

Daily Rap 09-02-2014

After the long holiday weekend, I'm sure stock bulls assumed the market would continue its relentless move higher, but that was not the case (at least not yet). The Dow and S&P were a little weak, while the Nasdaq was green. However, the stock market was not the scene of the real action, the outside markets were.

Green Paper Tiger The primary driver of activity appeared to be the strength of green paper, most particularly against the yen, though the dollar was strong against most currencies, with the exception of the euro. What was odd was that the strength of the dollar was coincident with pretty aggressive weakness in fixed income.

I'm sure all those bond bulls who believe in deflation were scratching their...more

Last year's posts for Ask Fleck

Q: If there ever was a contrarian indicator it's Ralph Acampora. When I see a headline like that it's time to run for the hills.

There's 'no way' market will crash: Acampora

Fleck: He is pretty "fadeable." I'll never forget in August of 1982, just before the stock market blasted off, he said it was headed much lower.
(posted: 8/29/2014)

Q: Bill,
Gold and Huang seemed a bit defensive on the EGD call, especially re: insider buying of common or rather the lack thereof, did you detect that or am I paranoid?

Fleck: You are paranoid. Huang is just an IR guy in any case.
(posted: 8/29/2014)

Q: to your point on overbuiliding in the cloud.....this seems to be very supportive:

Dropbox Drastically Lowers Prices On Pro Plan

Fleck: Thanks.
(posted: 8/29/2014)

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