A little Uncertainty and HERE COMES THE PANIC

Now that we’ve established the margin clerks are in charge, people are confused. I see the talking heads on my television recalling 2011, 2008 and even 2000. They cite PE similarities between now, and of course 1929. All of this theatre, this song and pony show, is a prerequisite to find a market bottom.

The next phase of this market will be to establish, as fact, that we cannot go higher, as it is physically impossible, before getting a “final flush.” Cramer is sure to come on the television and request one for his buddies who are short WDAY.

“We need a final flush. We need a final flush. We need a final flush.”

We need it, so that we can buy cheaper stocks, only to run them back up to all-time highs again. In a sane world, people would dismiss such frantic cat calls as “foolish” or even “manipulative.” I won’t drive this point into the ground anymore, as the market has always been this way and will continue to be this way for as long as it trades.

Just make sure you have enough staying power, which means NO MARGIN and a lot of patience, in order to wade through the mud.