Two weeks ago this blog was seething with pessimists, men clowning about the site in burlap’d clothing attire–screaming at me for being “long and wrong.” Although I was wrong, I made the right decision by staying long and resisting the temptation to go short. My problems are far from solved here. However, the point is this: the crowd is always wrong. Period.
There are very few times, save the social media bubble post FB IPO, when the crowd, the unwashed masses, are ahead of the curve. More often than not, when an opinion is so universal, so absolute, it’s time to go the other way.
Then again, we’re in a roaring bull market and have been since 2009.
Early this morning, on the Twitter and elsewhere on this site, most people are foaming from the mouth to get long again. The church of technical analysis permits this sort of “side-switching” because “the trend is your friend.” This is all inane rabble, as you know. Nonetheless, the market appears to want higher again.
My game plan is to follow the roadmap of 2000. Our bubble blew up last month. Now we will recover and offer false hope to the masses, before the “hammer of certain death and despair” strikes a fatal blow in late August.
By the way: in case you missed this gem, Jon Stewart, America’s only main stream journalist, skewered Tim Geithner in a 45 minute interview last week. Check it out.
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mjna is inverting around these prices/moment . maybe. may be time. take care because the hemp sector can bounce hard around here
can AAPL make it to $700 before the rug is pulled?
a sub-10 VIX would be really sweet to grab some leap spy puts too.
the crows follow the media , media anal-ysts and shits were advertising fear and panic.. this simple.
*crowd
Volume is very light.
I’m switching to Options House for my individual trading account because equity trades or only $4.75/trade. I’m currently at Fidelity and getting raped to the tune of $7.95/trade. Also, Options House has much lower margin interest. They are currently at Federal Funds Rate + 3.75% spread. Anyone have any opinions on option house?
Interactive brokers is like $1/trade.
I have to wait until August? Boy these things take so long. Yawn.
Need to hear from Blue Star
Also, surprised CREE isn’t higher on potential buyout, when the acquirier declines comment it must mean something is going to happen. I am long a little bit.
Fly,
You’re predicting a correction in August or a reversal and end to the current bull market? Also, why August?
how’s that up 0.25% portfolio day treating ya, Fly?
AAPL for the $100 roll.
(post split)
You short APPL? Good man!
LOL!
Not hardly. I only regret pickling off some of my AAPL calls too soon.
I have started a few long positions recently, here goes to stomping the bears senseless.
SALE working on a V bottom…
I Plan on buying more DIA puts this week. A little more upside to shake the shorts and embolden the bulls. Make no mistake we are in a very dangerous and treacherous set up.