ANALYST: Here's 5 Reasons I Just Went Even More Long With My Own Money On Friday
He gives 5 reasons why:
1. The Fed told me too, US data is strong yet neither labour nor inflation signs are worrying for the Fed.
2. because I had pulled out almost two weeks ago on expectations the rally would fatigue.
3. there tends to be a rally in December linked to accounting gimmicks (sell losers to lock in tax loss buy, proxies as replacement) and portfolio beautification (I really am long that prestige stock I love less than my investor).
4. Part of the hedge fund space is still running after their watermark or SPX performance.
5. Bitcoin's bubble like characteristics tells me there is tremendous greed at play (1200 top this week and then down 500 usd or so), yet equity markets are not at nonsensical levels.
Make of all those what you will.