Despite the temptation to oversimplify a complicated world by being a bull or bear, we are sticking with the mixed bag theme. In an economy full of both positive and negative events, there is no other logical conclusion.
Last Thursday's nearly 1,000-point decline in the Dow Industrial during the trading session was no illusion. More frightening, as Florida investment adviser Harry Dent, Jr., sees it, that day's bloodbath is "a sign of things to come."
Real worry has a very short half-life on Wall Street of say three to six months. After every giant decline, there's an enormous rebound and the thing for investors to keep in mind is that we're still in one.
The bull-bear debate rages on, but no two ways about it: the bull has firmly grabbed the Wall Street reins. The bears are still out there hollering fire, but the fact of life is no one is paying any attention to the dire warnings.
Verne Kabbel is a super contrary indicator. He has periodically e-mailed me over the past five years and as a forecaster on the direction of the market, he's infallible; I've never known the man to be right.
David Tice, running counter to the Wall Street herd, thought the bulls were out of their minds and he predicted that all hell would soon break loose, with both the economy and the stock market going into a tailspin.