How many points are we down this week? Seeing markets dive like this makes you second guess yourself about the reasons why you became a trader or a money manager in the first place. Boundaries aren’t being respected and the Fed isn’t putting up a bid for this market anymore. Instead, those fuckers have offers out.
I hate Friday’s in bear markets; they’re always the worst. Back in 2001-2003, I hated going to work, period. Those markets were similar to this, trends shattered inside of two days. If the market did rally, it was done in a very narrow fashion. It got so bad, I had to give up trading NASDAQS and had to rebuild my business around fixed income.
It wasn’t until we saw some real tax cuts and economic stimulus than did we see markets go higher again.
2003 was an epic year for me. It was the rebirth of Le Fly, career wise. At first, my gains were deliberate and moderated. Then I got the gist of it, sort of like riding a bike, and I was off to the races, throwing up huge numbers at my firm–once again.
Bull markets make you do stupid things, just like how I traded stupidly last year, so heavily concentrated in expensive tech into a bad decline. We all have muscle memory for upward surging stocks, thanks to years of unabated gains.
But we’re closing in on two years of rough sledding and I think it’s fair to say the bull market we grew to enjoy from 2009-2014 is over. It has been over for nearly two years.
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Like a frog boiling alive ….
Record number of typo’s there. Just saying.
STFU
Nonsense. “Tops” only occur when all the bears have thrown in the towel, and NOT, I repeat not when bulls start to question themselves.
Don’t make me do my markets-have-been-under-control speech man. Conventional wisdoms make you look so passe. And do you really think MOST bears (most) did not throw in the towel couple years ago, at least following qe4-october-14? And the 8% bears (philosophical bears) still remaining represent the difference between a top and the end of the bull period
Palpable or palatable?
My 4 horsemen of crash part 2 are still chugging
Copper | Oil | Highyield | Lumber
(balticdry for the high five bonus)
I flagged oil moving as anomolous late summer 14
(we know was engineered down but marked change)
How come you not shorting anything to hedge? Curious what a SAM brain is thinking.
“That…be not told of my death,
Or made to grieve on account of me,
And that I be not buried in consecrated ground,
And that no sexton be asked to toll the bell,
And that nobody is wished to see my dead body,
And that no mourners walk behind me at my funeral,
and that no flowers be planted on my grave,
And that no man remember me,
To this I put my name.”
–Thomas Hardy
Govt bond yields in the gutter, debt through the roof, hedge funds getting hammered, retail going down the drain, stocks sliding relentlessly downward, it’s a bear market!
Forgot to add: BlueStar setting resonant charges around the volcano. A major eruption is in the offing.