I realize today is a hard day. By looking at the indices, one might think a dedicated short seller is mad with rage. Its been 6 years of Dantes Inferno for short sellers and they never seem to get a break. Just when it looked like oil was on its way down the toilet bowl, when their leader of hell, Dennis Gartman, said it was going to $10 per barrel, it careens higher.
They almost had a Greek default 10 times, but no dice.
They once even had western countries teetering on insolvency, with sovereign debt yields spiking through the roof. Now Spain can borrow at a cheaper rate than the United Steaks.
More recently, biotech stocks posed as imminent danger to the bull market, overheating too fast–much to the bears delight. Well, it pulled back 5% and now they’re running again.
Nothing, and I mean nothing, is being given to the short sellers of America. These poor lads have been living in abject squalor for more than half a decade. I am thinking about starting a foundation to help these people. Perhaps we can all donate, and show our good grace, just 1% of our profits to this foundation and help feed a bear family tonight.
What do you say?
In other news, TWTR is breaking legs to the upside. I am pissed off for not owning it. I wanted to buy Rignet, RNET, 10 points ago; but missed that too. AGIO flagged oversold in The PPT yesterday, with a 10 up 1 down track record. That stock still looks good today.
My PANW, SLCA and N are powering forward today, lending to an even more hedonistic 2015 for yours truly. It’s not all rainbows and unicorns today, with breadth at around 59%.
Lastly, we sent out 12 beta trials last night. I am looking forward to hearing your thoughts. We will send out another 50 today.
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