Many of my hedge fund friends are complaining to me now about the “cowardice” of traders. They tell me “why isn’t anyone buying stocks? Why don’t you write about how cheap things are Fly?” I can only tell them that “it’s over — and you need to shut up now and plan for life after money management.”
For the sake of your families and all those you hold dear — have a looksy, if you will, at the US 10yr — rapidly and fastidiously approaching 5%. People earning less than $500,000 per annum will never be able to buy a home again.
To suggest mildly that “it’s over” is a gross understatement and I only say it in passing, matter of factly. When you really come to think about it, we are much more likely to resume hostile activities against one another in this country — rather than live in peace and equanimity.
We are mostly an animus people — always on the lookout for war and turmoil. It’d be nice to just chalk it up to the government and blame them — but the people are culpable in nearly every single crime committed by the ruling elite and you’d behoove yourselves into thinking otherwise.
In front of me now is the choice between buying this dip or shorting into the hole. By buying into the dip I am siding with the transgendered bulls — thinking stocks have bottomed and better times are ahead. If I short into the hole, I am betting on collapse — a seasonal tradition steeped in rich history and custom. Many men better than you have ruined themselves in October — forced to jump head long out of their windows and right onto the concrete below.
I’d like to believe stocks are poised to crash — because to be frank with you — that’s exactly what we deserve.
But we are getting very oversold here and my instincts for preservation are alive and well. In other words, I need more time to figure this out.
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The big bank and broker and their elite clients have reduced their inventory sufficiently. The pump and dump is over, now replacing it with a treasury yield narrative and sticky inflation. In fact, the reality was treasury yields and inflation the whole time, but they drew some in with the money game.
Since Treasuries are selling at a 15 to 20 year low price, buy TLT at 85.10
I’ve been trying to buy a stock I like all day. They actually produce something and make money. They won’t sell it to me at a price it sold for most of last week.
I’ve been trying to buy a stock I like all day. They actually produce something and make money. They won’t sell it to me at a price it sold for most of last week.