S&P 500 Caps Best Weekly Gain Since July 2009

[moore_capital54]

Hope you all enjoyed this fantastic week. We made up a lot of lost ground especially after enlarging our long equity exposure. Regardless of what happens next, I am very satisfied with my rock bottom purchases when everyone dumped their equities.

 

 

[onyx1]

I enjoyed it too.  I went all in during last months mini-panic with additions of WFC, BRK and some others when the market became overly pessimistic about the future.

[biaggio]

Jeff Grundlach thinks this is a bear market rally---says that bear market rallies "are better then the real thing" which I found funny.

 

Who knows?

[moore_capital54]

Value Investment board not the place for this type of analysis but I believe that even Gundlach would appreciate such statistics:

 

From Sentinemt Trader:

 

Longer-term, the rally we've seen has obviously been impressive.  It's also very rare.  There have only been five other times we've seen a similar performance since 1928.

 

What we're looking at is any other time the S&P rallied 9% or more off of a 52-week low, managing to stage at least a 7-day rally with no -1% days mixed in.

 

Going forward, each of them tacked on more gains during the next month, averaging +4.1%.  The only failure to mark a major low was in April '01.  All of the others were very important market bottoms. 

 

 

 

 

[twacowfca]

I enjoyed it too.  I went all in during last months mini-panic with additions of WFC, BRK and some others when the market became overly pessimistic about the future.

 

Same here.  We added to our LRE derivative and put all the remainning cash into BRK because the free put on BRK was an offer we couldn't refuse.  :)

[alertmeipp]

what.....stocks still are cheap if ppl believe EU crap is going to pass And no China hardlanding

[Parsad]

We've made up a lot of ground too, but I don't care.  The whole premise of my argument a few weeks ago was buy cheap, sell dear.  We have done nothing different in the last five years, and it doesn't matter if this is a bear market rally or a bull market.  Too many people were anchored to their notions before the credit crisis, and too many are anchored in a different way after. 

 

Our holdings are all still significantly undervalued relative to intrinsic value, and I'm not concerned about the devaluation of the U.S. dollar, another Great Depression, the demise of the Euro, a 7.5 earthquake hitting Los Angeles, a 5.0 hurricane hitting the Gulf Coast or Iran blowing up the world.  Those things are out of my control.  All I control is what I do.  Cheers!

[Liberty]

We've made up a lot of ground too, but I don't care.  The whole premise of my argument a few weeks ago was buy cheap, sell dear.  We have done nothing different in the last five years, and it doesn't matter if this is a bear market rally or a bull market.  Too many people were anchored to their notions before the credit crisis, and too many are anchored in a different way after. 

 

Our holdings are all still significantly undervalued relative to intrinsic value, and I'm not concerned about the devaluation of the U.S. dollar, another Great Depression, the demise of the Euro, a 7.5 earthquake hitting Los Angeles, a 5.0 hurricane hitting the Gulf Coast or Iran blowing up the world.  Those things are out of my control.  All I control is what I do.  Cheers!

 

Words of wisdom. Thanks Parsad!