Bullpen

[Bullitt]

As crazy as this market seems, it's not the first time something like this has happened.

It turns out that the current streak of more than 400 days without a correction represents only the 14th time this has happened since 1928.

http://www.peridotcapitalist.com/20...more-than-400-days-without-10-correction.html

 

[Bullitt]

Not surprisingly, in the recent market drop, put volume has been heavy as bearish fears and forecasts abound. At the current time, the total put-call ratio has tentatively peaked at 1.02 on June 2nd (SPX closed at 1098 that day). If that peak lasts for another few days, it will be a rare confirmed broad market buy signal from the total put-call ratio.

http://online.barrons.com/article/SB127654271228405537.html?mod=djembdr_h

 

[crws]

P/C vs. S Fund
rough, but obvious...

 

[Bullitt]

Kass is a short term trader so I wouldn't consider this an all clear sign to buy and hold. To make a comment like this he's probably long some SPY's he's looking to unload. That's just how these guys roll.

I continue to believe, as expressed recently in "The Scale Tips to the Bullish Side," that it has once again become time to take the road less traveled and to raise net long exposure at precisely the time when such a strategy is most unpopular.

http://www.thestreet.com/story/10851140/1/kass-taking-the-road-less-traveled.html?cm_ven=RSSFeed

 

[Warrenlm]

On CNBC .....David Tepper of Appaloosa.....he's bullish ... a lot....saying right now might be "one of those moments".

He went through all the possible negatives and found them resolved. Latest FOMC says to him that the Fed will make it work. He said that if the economy improves on its own in 3 months, all is well. If the economy does not improve on its own, the Fed goes into QE2. Only if the QE went long term, like 5 years, is it a problem.

He said S&P multiples will go higher than the 12 they are now but shied away from them going above 14 next year. His fund is not 100% equities. But he has "had his animal spirits awakened." The market can go down to 1100 but not 1000. If it did he would be 100% equities. He said he is always at the head of the pack, either getting good grass or getting eaten.

Were those Ferdinand's hooves?

 

[Birchtree]

You bet - everyone is standing outside of the green pastures sucking on the bond baby bottle for security. They will all puke when bonds turn turgid. I'll sit back and watch the rush of money back into the green pastures where the opportunities are unlimited. In the meantime the bus travels faster when the load is light - precisely how it is supposed to happen. How many people caught the March '09 low and the 80% run - I know one hoofer that did.