You already know the answer to that: Buy Property. It’s an old truism that everyone active in the financial market seems to know but at the same time rarely anyone appears to be capable of following. Don’t blame yourself – it’s simple human nature. Something out of the ordinary happens and immediately fear sets in.
It’s getting pretty toasty over here in Valencia and the air conditioning are doing their best to keep temperatures within a tolerable range down here in the lair. The transition to summer here in Spain is pretty drastic and very different from what I am used to from my two decades living in Los Angeles. Two weeks ago it was still chilly and rainy but then someone somewhere in Madrid throws a switch and the entire country turns into a smoldering but humid oven.
Once again the ice wall blocking the way to SPX 2100 and beyond proved too steep a hurdle for the bulls. Yesterday’s lackluster session was a bad omen in that it showed only obligatory participation near such an important inflection point. That’s not how to storm a stronghold that has held what at this feels like aeons
I think I speak for everyone involved if I say that it’s way past high time for this market to either breach the wall ahead of SPX 2150 or finally accept defeat and relieve itself to the downside. It’s become a war of attrition at this point as we have been suffering through this deadlock of a market for more than a year. And may I say – it’s getting not just boring but increasingly annoying. I’m fine with as sell off – I’m also fine with a ramp – just let’s get this show on the road, thank you very much.