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Alphas Edge morning stock market update

I smell fear in the air!

                I cannot believe what I’m seeing, but many traders have fear in their eyes.  No, not the fear that the market might correct and fall, but fear that the market will head higher and higher.  This just goes to show you how dumb and greedy people really are.  They KNOW the market is overpriced, they KNOW the companies are all manipulating their balance sheets, the KNOW that government has put their hands on every sector of the economy, yet they are willing to buy stocks just because everyone else is.  Think about it, even Roubini is bullish (on commodities, at least he is right about that one)!

            All the media is sloshing the same stories.  Everyone is trumpeting the cash for clunkers back door bail out.  Companies continue to beat earnings left and right.  Many companies are up over 5% this A.M.  We are trading one bubble for another just like the previous few decades.  But all these bubbles are popping faster and faster than the previous one.

            My advice is stay out of the market while people buy out of fear because you will always have a moron willing to ridiculously overpay and force you to do the same.  I cannot believe I’m saying this, but foreclosures is the best place to invest your money (don’t confuse investing and FLIPPING!).

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