As bond yields crash year-to-date and the Russell delivers negative returns, the world’s most consensus short position (SPX Index + E-mini) hit another new high on no volume yesterday.
Today’s poll question was: Is the S&P 500 going to cross 2,000 this year?
At the time of this post, 65% said YES; 35% said NO.
(Voters sharply swung so much in one way, that we didn’t receive any comments on why people voted NO.)
Here’s what those who voted YES had to say:
- “2000 is serving as a magnet, and it's only about 4 - 5% from here. Technically the chart is looking very constructive despite all the sector variances (which are not healthy). More shorts still need to be squeezed, by the time all said and done, shorts will be scared to short anything. The current pain is not severe enough for many.”
- “Policy to inflate requires currency devaluation, S&P 500 only needs to rise 4% from here and it's imperative equities continue rising post Financial Crisis; so it's quite likely S&P 500 will exceed 2000 in 2014.”
- “The global central banks will continue digitally printing money and artificially suppressing interest rates to push asset prices until there is a monetary crisis of some sort to force them to stop.”
- “It’s already baked in. It’s a political imperative. The question is, will the S&P 2200 predictions come true, or will there be a road bump that will turn the market into road kill?”
- “It will probably cross 2000, and then 1750 in the next twelve months.”
- “Yes, but after summer pullback.”
- “The FED cannot have the public lose confidence and stock market is harbinger of confidence.”
- “The SPX will hit 2000 via the mother of all short squeezes and dovish monetary policy whereas the RUT will not revisit the March 4 high this year. I'm in Mr. McCullough's no-growth camp with the exception that I believe that if the Fed pulls out or fails then the country will find that it has actually been in a depression and the growth seen in the past 5 years was solely because of the false bottom in the economy created by the Fed.”
- “Easy money pushing stocks higher.”
- “The global central banks will continue digitally printing money and artificially suppressing interest rates to push asset prices until there is a monetary crisis of some sort to force them to stop.”
