I do not understand the Bull's case for US markets.  The only reason the markets are as high as they are is momentum buying.  This can quickly change.  We are in a recession, the $ will continue to tank, US tax collection will go down, the consumer is being eat up with inflation (that does not exist according to the govt) thus causing the GDP to go down.  I believe many will be taking early withdrawals on their retirement plans (even with penalties) just to exist. Especially those that lost their jobs.  This will hurt  stock prices.  Also the public is learning they can not believe the govt and trust in stock brokers is being lost.  I can not think of one fundamental that would make me think stocks are a bargain.  The only sector is metals and energy that could be buys.  I also am afraid the JR mining stocks are going to be affected as the big caps is the preferred place now for hedging bets.  This will change as the supply situation for metals continues to go down.  Naturally a stock like NOT will rise and fall mostly on the drills speaking and news releases.  There is undeniable value there and it will be recognized.

Would love to hear why the Bulls think the US markets are a buy.  I do not think we will see the DOW at new highs for at least 10 years.

Goldfinger