The market is moving so fast, I know you’re on edge. I know I am, having slept a whole hour last night. This market has everyone very nervous. But I am trying to avoid getting swept up in the emotion. The problem with that, will my complacency get me swept away?
Understand, the sentiment is so bearish right now, on a global scale, an notion of QE3 will send this market ripping higher. Again, the issues lie with the Europeans now and they seem unable or unwilling to deal with this crisis. My tell for today is EMN. Truth be told, most stocks are trading in tandem now, straight up or down. I don’t need to explain to you what is already known: uncertainty reigns supreme.
If you are short this market, I think you’re crazy. Going to cash is understandable, but being short here, with the rubberbands pulled back this far, is absolute madness and borderline irresponsible. You can argue with me, until you are blue in the face, about how the house of cards is going to fall and the current path is unsustainable, but it’s still a low probability trade. Taking into account the amount of full fledged market routs, compared to false panics, the edge lies with the bulls here.
On the other hand, buying ahead of the weekend is also dangerous. No one knows what the Europeans will do. Those fuckers are on vacation and seem to have no reservations about letting their countries fall into sinkholes.
Pardon the cliche, but cash is king. If I wasn’t so stubborn, I probably would have raised more this morning. At the present, my 20% reserves will collect dust.
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Good advice.
Unnecessary. It’s always good advice.
good thought.
Today I visualize all things Europe as if John Cleese of Monte Python fame was speaking……….it helps
Yes, I need that reminder. Thanks. My head hurts although I got an hour more sleep than you did.
the eurotards have been on vacation for ever. quite frankly,they still believe we should eat cake…….or is it pea’s hhhhmmmmm
yes let the chips fall where they may. u might miss profits(losses). it makes sence to take a breath here, wait til europe settles there mess, its the wag dogging the tail..lol
Anyone want to eat more peas?
?
Obama said we should eat our peas last week
Wow, is he ever a great financial advisor. Too bad he’s not that good as a president. Although certainly better than W.
yea only if there’s a hambone, carrots, onYoun, and celery with it.lol
Master Fly, before QE 1 & 2 you were the person who was shorting in spots like this. You always pushed the momentum and WON.
R.I.P. MoMo Fly
dan fitz on cnbc,,lol must read my posts,,lol
i go to my screens its sad, they r blank, i fired eveyone, they went home.
All I can say is God bless PEP, MCD, PM, etc
I always find it fun to be in a company that exceeds earnings and lifts 2012 targets, then gets murdered just for participating in the market itself.
“Europeans…unable or unwilling to deal with this crisis”
What a surprise…did the Italians even go to work today? I mean they worked 4 days already this week!
the prez throws us a bone, his statement is of qe3, but this was his statement when he took office, his missplaced trust in others has led us here, the proof is in the pudding hr prez.
Question for you veterans here. I traded thru the 2008 credit crisis and such and this price action and relentless selling seems worse…anybody have an opinion on that?
yes
Sharp declines are met with sharper rallies.
Presidents are puppets of the Special Interest Groups who financed their campaigns. Why do people think they are going to do something for the average Joe?
It’s the voters who vote for candidates when Special Interest Groups financed their campaigns, who have misplaced trust.
Congress and the president know they can trust their campaign donors to keep supporting them, as long as they give them what they paid for. Which entails throwing the taxpayers under the bus.
at this point i dont think special interest is playing here. i think there a general concern that we fail, if we fail the will be no special interest group,
Special Interest Groups are very self-centered. Not very concerned about the rest of the economy and whether it will fail or not. 2008 proved that.
We are probably getting downgraded. This is why the sell off. Bet on the rumor not the news. Shen it finally happens buy the shit out of the market on the “bearish” news.
Like an idiot I’m long as shit trying to play hero. Worst shit ever.