A snippet from twitter:
In 1938, the S&P 500 rallied 46% in 147 days before crashing 85%.
So far, the S&P 500 has rallied 46% from the low of March 6th and today (Saturday 01 Aug) is 147 days from that day.
Earnings. The reported numbers for earnings are operating PE which shows that PE's for the S&P are in the 20's. But if you look at "as reported PE's" then the S&P is trading in the 700's. That seems mad to me. Why should I pay a premium because a company cut costs. The data is all here on the S&P's own website (line 47, col H) : http://www2.standardandpoors.com/spf/xls/index/SP500EPSEST.XLS
OK after today I will stop thinking about this.
Robotrader will be back on Monday.
Back to buying the dips and selling the rips.