Only one thing matters today, and that is the dollar, which is hitting new recent lows. Forgot fundamentals, forget charts and anything at all that would raise any doubts. The dollar is weak, and that means you buy.
What is adding to this amazing strength is that so many market players are struggling with it. I keep hearing from folks how the market has disconnected from the real economy or how charts are uninviting. They simply can't embrace the idea that things are really as good as this market seems to indicate.
Nothing negative matters right now. Not because the bearish arguments are illogical or wrong but because all that matters is the weak dollar and the massive liquidity created by the endless bailouts and stimulus.
How much longer can we continue to run on that basis? A lot further than you think.
P.S. Will you be there when Cramer makes his next move?
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James "Rev Shark" DePorre is the author of Invest Like a Shark: How a Deaf Guy with No Job and Limited Capital made a Fortune Investing in the Stock Market. He is founder and CEO of Shark Asset Management, an investment management firm, and he also operates sharkinvesting.com, an interactive online community that serves and educates active investors. DePorre holds business and law degrees from the University of Michigan, is a member of the Michigan Bar Association and a former tax attorney and CPA. He lives in Anna Maria Island, Fla., with his wife and two children. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Rev Shark appreciates your feedback; click here.
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