Two-Way Traffic Ahead for the Markets?
David Moenning submits: After what has likely been a painfully long stretch of one-way road, it appears that our furry friends may have spotted the one road sign they've been aching to find on their journey: Two-Way Traffic Ahead. As we've been saying for many moons now, the current one-way market is indeed rare. This type of joyride to the upside has definitely happened before, but it has also clearly confounded anyone expecting to see a more traditional two-steps-forward-and-one-step-back type of bull market environment. While we are not ready to commit to the idea that the top is in and that the bears will control the game going forward, we will suggest that the current geopolitical issues in places like Libya, Bahrain, Tunisia, Morocco and Yemen are clearly enough to kick-start a consolidation/corrective/sloppy phase in which the market goes both ways for a while. The question I was asked on a fairly longComplete Story »