The bubble is continuing to build up. This afternoon I received a call from people try to selling me stocks “We are an investment company. Have you heard about the stocks lately?” Anyone who has not heard stocks must live in the vaccum or Tibet. Stocks are talked in every gathering. I heard people become restless during the 7 days break because the market was closed. The No. 1 the question is: when will the market correct?
That’s really a million dollar question, and unfortunately I don’t have an answer. The only thing I know is the banks are still crowded with people moving the money; the stock brokerage firms are crowded with people to open new accounts…Another interesting thing is most people felt safe “before the 2008 Olympics”. It’s maybe a false belief though. The current index may already reflect all the good news before 2008.
To be honest, I can’t predict the future, either the short term correction, or the middle term “Olympics effect”. As I read Ken Fisher’s book lately, he mentioned if the information is known to all the people, that information may already being digested by the market. So, what do we do tomorrow 🙂