about where the top is in the market. After running the numbers, I came up with1588.29 (the S&P high today: 1589).I think we could be at a near term top... at least I
hope so. How a pullback will affect LLEN remains to be seen. I don't think there will be much affect, may depend on if we hit some 'key' number first. Curious to see where we end this week.
Sam Zell (in whose opinion I would usually place great credence) is convinced that since the commercial RE market is at a top we are poised similarly to 2008...Is he forgetting oil was at $140/bbl? residential construction was way higher and everyone was in the building trades compared to where it is today (We are only just beginning.)... the job market was at almost full capacity...the emerging markets had only pipe dreams of challenging the US in markets...gold was $2.50/oz...and corporations were highly leveraged, where today they are overly funded and trim and fit.
What do you think?
Sharpei