'Still' Safe On The Sidelines - 501 Days And Counting
Submitted by David Stockman via Contra Corner blog,
On December 28 we laid out the reason why the Wall Street casino should be avoided at all hazards in a post entitled “Safe On the Sidelines - 405 Days And Counting.” We referred to the fact that the S&P 500 had first crossed that day’s close at 2052 in November 2014, and had vibrated sideways ever since.
We are still counting. After this week’s carnage the number has risen to 501 days, but our belief that the stock market casino has just begun its descent has only been further reinforced.