Early this month, right near the market’s lifetime peak, a well-known Sloper left a comment that essentially admitted that, based on some long-term metrics, the market was still a good value, and it made sense that it kept getting bid higher.
I just about leaped through the screen to strangle the chap. “They got you! They got you!” I felt like I had lost a child to a cult leader. I don’t remember who it was, and I’m not going to seek it out, but I remember being vaguely disappointed.
My own opinion – – surprise! – – is wildly different. I think the Dow’s true value is much closer to 0.00 than 30,000. I am thus heartened to see equities continued to bleed out. as the RTY minute bar char indicates.(more…)