I CAN HOLD MY BREATH A LONG, LONG TIME

The jobs report was bad, really bad. We’re living in a Tale of Two cities, absent the guillotines. There are people who live exorbitant lives and then others who scrape by off government assistance (PRSC)–stuck in the mud. At the same time, equity valuations are at their highest points ever, the ultimate kick to the nuts for the guy on furlough, trying to put his kids through college.

My HDGE is lifting as the market craters; but AG (I am short) is lifting too, with precious metals, because some retard forget to sell them this morning. I am also short JCP, CCL and PBR.

For me, even after another FRO cut, this is a 0% day, flat because I saw it coming.

Now some of you might be tempted to swim in the waters, trying to eat a little chum. Don’t be so easy to be lured into the shark infested waters. We have more downside left in this tape.

I’ve always been a strong swimmer, ever since I was a little boy. I could hold my breath for over a minute, traveling clandestinely underwater, like a russian submarine, only Irish/Italian. This market demands patience, so go chill out, eat a bunch of sandwiches, and avoid buying dips that are only going to dip some more.