Tech, housing, oil.. all great bull markets come to an end at some point.
And this was my year to sell, I started to think. Maybe sell 'em all. That's right, sell everything.
Hasta la vista, baby.
I came in pretty nervous, after all. A bull market that dates (with brief respites) back to 1998, which major mojo starting in 2003. 2006 was a little so-so, but 2007 was another barn stormer. And everybodys now talking about oil.
Money Magazine [the most mediocre of the finance magazines by a long shot], for crying out loud, a huge skeptic of oil in 2004 (and a housing bubbler till the bitter end), even getting bullish.
And the kicker: CNBC turning to all oil, all the time lately.
And now Doug Kass.. - DOUG *&^%$#@ KASS - [do you have ANY idea how skeptical this guy is?!], called for $135 oil in his 2008 Surprises (See "20 Surprises for 2008.", it's number 15.
Number 15..? After a huge bull run we can't even make the *&^%$#@ top 5?!)
But then, I ran across this video:
CNBC: Sector Stars for 2008.
And I listened to the survey on how many money managers believe energy will repeat as the best sector this year.
Go ahead, what percentage would you guess?
One or two?
How about - none. Yep - no money managers believe in energy this year.
Energy is back, baby!
Ok, I'm kidding. Even I don't think energy will be the best sector of 2008. But zero - that has got to get your contrarian hackles up a bit.
I'm a little skeptical on financials being the best performing sector of 2008, but I've had GS on my potential buy list for a while, and maybe this is my year to buy it. Not sure I'm buying until somebody big blows up there though.
What's looking healthy right now? Bought a little TEVA (generic drugs) the other day .