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Seven Reasons Not to Trust the Bull Market

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All we're buying is time.

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Editor's Note: The following is a free edition of Jeff Cooper's Daily Market Report. For a 2-week trial FREE trial, click here.

So keep on playing those mind games together
Faith in the future, outta the now
You just can't beat on those mind guerrillas
Absolute elsewhere in the stones of your mind
"Mind Games," John Lennon

Everybody gets so much information all day long that they lose their common sense.
-Gertrude Stein

Has the hurricane passed or are we in the eye of the hurricane? Whether you mine for bullish or bearish points of reference, there are always positive or negative nuggets to glom onto to support whatever you believe. The future is never knowable per se, but there are tools to sharpen an edge. However, the greatest danger in investing lies with being optimistic about what is undeniably unknowable. If there is anything currently that is certain, it is uncertainty.

Let's connect some dots:

    • The leading culprit and protagonist for our economic ills has been the housing debacle. The inability of homeowners to cope with higher resets and declining values in turn crushed major financial institutions.

    • Struggling to survive, institutions willingness to lend evaporated--including their willingness to rollover existing loans.

    • Down goes commerce, up goes unemployment.


The government of the US works on the premise that it is omniscient and has the power to avert an economic collapse.

This is the legacy of the generation that grew out of the Great Depression and won World War 2. The unrivaled military power of the US has been called into question since the Vietnam War, and recently the wars in Iraq and Afghanistan.

You have to consider how long these wars have persistent in the context that the US conquered Europe in 4 years. The unrivaled supremacy of the US dollar is being called into question, which in turn calls into question the US's ability to be the world's policeman.

No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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