A plaque remaining from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem.

Above, a 1934 plaque from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem. Discarded as trash in 2006. Now a Popeyes fast food restaurant on Google Maps.

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Entry from December 08, 2009
“The most bullish thing the stock market can do is go up”

In the late 1960s, Wall Street had a consensus that “the most bullish thing” (an event causing stocks to rise) would be for the Vietnam War to end. Various other circumstances would be claimed as “the next bullish thing,” such as electing a certain presidential candidate.
 
“The most bullish thing the stock market can do is go up” (or “the most bullish thing a stock can do is go up”) sounds like a Wall Street tautology. Bull markets go up. The best sign that the market is going up is for the market to go up. “The most bullish thing a market can do is achieve new highs” was called “an old saw” in 1998.
 
The saying is not always true. If the fundamentals of a stock or a market are poor, the rise in price could be a “sucker’s rally.”
   
     
3 April 1967, Tucson (AZ) Daily Citizen, pg. 1, col. 7:
Wall Street has been saying right along that the most bullish thing for the stock market would be some sign that the Vietnam war might be coming to an end.
 
25 November 1992, Buffalo (NY) News, “Big-capitalization stocks lagging the overall market” by David Robinson:
“The most bullish thing any market can do is rise to new highs, and that is exactly what the broad market has just done,” says Norman G. Fosback.
   
13 July 1998, Chicago (IL) Tribune, “Trade deficit delayed Asia effect” by William Sluis, Business, pg. 3:
“There is an old saw on Wall Street that the most bullish thing a market can do is achieve new highs,” he said.
 
11 August 2004, CBS Marketwatch, “Personal FInance Daily” by Robert Barr:
Normally, I agree with the adage that the most bullish thing the market can do is go up.
 
5 November 2004, CBS Marketwatch, “Personal FInance Daily” by David Haffenreffer:
It is said that the most bullish thing the market can do is go up.
   
16 November 2005, CBS Marketwatch, “The Meaning of the Dow Transports’ New High” by Eric Talmadge:
After all, as the saying goes, the most bullish thing the market can do is go up.
     
Traderji.com - Discussion Forum
rkkarnani 
5th May 2008, 09:51 AM
I am not trying to find a fault with current rally. There is a saying - the most bullish thing a market can do is to go up. But as a market observer, I thought it’s important to get your attention to this fact - the market needs sustainable legs to rally and that’s what is missing right now. The market desperately needs clear leadership - a leadership which is backed by both fundamental and technical reasons.
   
Trade Guild
Wednesday, November 04, 2009
Breadth Readings-The Market is Getting Thin
There are a lot of ways to judge a market’s breadth and it is important that you do so. While rising price is what pays, as they say “The most bullish thing a stock can do is go up”, you’d be well advised to check on the vitality of the rally for perspective.
       
MarketWatch
Nov. 16, 2009, 5:14 p.m. EST
Bullish chart pattern?
Commentary: No particular meaning in S&P 1,100, says a prominent technician

ANNANDALE, Va. (MarketWatch)—The most bullish thing the stock market can do is go up, of course—at least according to the age-old Wall Street saying.

Posted by Barry Popik
New York CityBanking/Finance/Insurance • Tuesday, December 08, 2009 • Permalink


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