THIS IS A BUBBLE AND OTHER CONCERNS... BLAH BLAH BLAH

Yes, against the obvious fact most of the traders are still expecting some huge correction and plunge. I just collected some forum comments below, from Friday:

• "The disaster is at the door"
• "We are going to repeat 1929"
• "Stocks are not safe bet anymore"
• "Only the idiots buy the stocks at this level"
• "Caution! Correction is ahead"
• "What goes up must come down"
• "This Ponzi scheme is about to blow itself up quite soon"

Funny, isn’t it. The market is in a great rally mood and most of us short selling the market, while the S&P 500 setting 19 records in the first half of 2014. Against this fact there has been so much fear about a potential correction. Why? Why do we do stupid things? Why are we short in the market if it goes week by week higher and higher? I will never understand that.

On Friday US benchmarks rose modestly again, but trading was choppy due to concerns about Iraq. This week all indices made correction after a great long rally. This is not a disaster, try to understand that the market needs to heal and take a rest time by time. This is part of this business and don’t argue with that.

• SP500 0.7% loss over the week
• DJIA lost 0.9% over the past five days
• Nasdaq declined 0.3% over the week

The BFM Assets Team.