A Bell Ringer Here, A Bell Ringer There
A Bell Ringer Here, A Bell Ringer There
“Don't try to buy at the bottom and sell at the top. It can't be done except by liars.” —Bernard Baruch, American Financier..
On December 14, I wrote..
Everybody has their favorite market indicator. I named mine after me because it’s based on what I see, hear and feel – and it almost never fails.
And right now The Greenberg Indicator is screaming that if we’re not at an inflection point in this market, we’re awfully close.
It’s this simple: Things have moved too far, too fast. And, yes, I know the old saw, meant for short-sellers, that the markets can remain irrational more than you can remain solvent.
But there’s irrational and there’s unhinged…
The market went higher.
Two months later, I reminded readers about what I wrote in December and added...
Since then, the market has gone straight up, from irrational and unhinged to downright, some might say... insane.
Here we are two months later, in February, and it would appear we’ve gone from “we’re awfully close” to any day now.
Signs A-Plenty
And here we are – in June, and we have...
The Roaring Kitty/GameStop drama. (Again.)
And the most obvious, or so it would seem: The below story in Bloomberg:
For old-timers, of course, it harkens back to the 1979 Business Week story headlined, “The Death of Equities.”
If there ever was a bell-ringer – as the below chart shows – for anybody with a bit of patience, that was it!
Truth is, no indicator is infallible. And given how wrong The Greenberg Indicator has been this cycle, I should probably re-label it as The Greenberg Contrarian Indicator... in which case, if it truly is: Buckle up.
DISCLAIMER: This is solely my opinion based on my observations and interpretations of events, based on published facts and filings, and should not be construed as personal investment advice. (Because it isn’t!) I do not have a position in this stock.
I can be reached at herb@herbgreenberg.com.