The market has been accosted and beaten with fuggly sticks pretty much all day. No surprise there. It had it coming. Still too many bulls crying out for a reversal. No mercy for you, regrettably.
Even though it appears to be making a comeback from the lows today, it’s still a matter of how FUBAR this deplorable market will get. If you’re a bull at heart, then take heart. Go stab yourself with a spoon. It doesn’t appear to be getting any better near term.
Rising oil will continue to waylay the bulls and all things gay. It’s the law, by the way.
As for moi, I am happily twiddling my thumbs sitting on piles of cash as I watch [[MA]] go down, as ordered. By the way, death to MA and all who practice usury.
In Costanza-like fashion, I am stubbornly holding on to the 10 focus stocks. I believe they are “safehavens” for bulls looking to hide from giant granite balls falling from the sky. Despite that factoid, they are getting the hammer of Zeus today.
However, with equal justice meted out, [[ZEUS]] is getting the homo hammer of Thor in spades. How appropo.
I covered my [[COF]] short position @ 38.25, partly because it doesn’t feel good to be short that stock, and partly because I can. Also, I just covered [[UA]] @ 25.60 for $6 and change, because people running around in tight spandex make me nervous.
Finally, my urging is this: do not step into this developing maelstrom of evil by going long, except for energy and energy services. The market can be like a bitch who appears to be raising her skirt for a “look see”, then frags your ass with grenades.
Keep this in mind.
You may now continue to move about and establish more short positions.
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