How terrible is this tape? It’s mugs filled with black smoke and chards of metal, all over again.
Aside from VHC, we are in “full retard” to the downside mode. I am keeping my 45% cash position until the blood is freely flowing in the streets. Make no mistake, I am not immune from this catastrophe, as I too am bleeding out in a number of stocks. But let’s be honest, shall we?, I’ve out-foxed you, yet again; and now find myself in a superior position into the teeth of this grinder.
If you want to know why we are melting down here, you are asking the wrong questions.
This is summer malaise and US growth is stalling. Clearly, there are many problems in the world, scaring fuckers into odd lots of TLT. But let’s be honest with one another, shall we?: stocks are trading down because Bernanke didn’t do another round of QE3.
We need that shit to breathe. The policy responses by the Treasury and Federal Reserve have made us into weazened printing press addicts. You know it’s pathetic and denigrating; but the press is so fucking cool, I never want it to go away.
This too shall pass. Be patient.