Take it from a hard-core permabear: This market is going higher ' possibly much higher. We edged our forecast for the Dow Industrials up to 15175 a while back, even as we were telling you that the real estate sector is about to become a Depressionary bog. Are these forecasts necessarily incompatible? Only if you are the sort who thinks logically, as opposed to imaginatively. Take our friend Joe D., who wrote to tell us yesterday that he was throwing in the towel on short positions in Yum Brands and MGM. From a logical standpoint his initial decision to short the shares of these companies seems flawless, even with both stocks currently in uptrends as steep as Yosemite's El Capitan. Yum! Brands, chicken purveyor to the world through its KFC outlets, is a dead duck as long as the bird flu story continues to grow scarier by the day, which it must. And MGM is even deader meat, since the casino business is more bloated and competitive than ever as the U.S. economy dives headlong into recession-or-worse. But why should such details matter if equally weighty realities have failed to slow the bullish onslaught of the Dow Industrials and Nasdaq 100? In fact, in a stock market that has turned logic and even rationality on its head, it is the very worst stocks that should be climbing the fastest. And they are, as witness the performance of that indomitable category killer in the auto business, Chrysler. Pondering these in-our-face affronts to reality, and with the urgent goal of removing ourselves from harm's way, we die-hard bears must be open to the imaginative point of view ' i.e., that with the Industrial Average appearing to consolidate at 14000, it's quite plausible that ' are you ready for this? ' 'We ain't
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