There isn’t going to be a resolution to this crisis anytime soon. It’s tempting as hell to buy TRLA, YELP, YY and others into this dip, but there isn’t a catalyst in the world that can help stocks over the next two weeks.
The Treasury Sec will offer a retarded speech on Thursday, further exasperating this crisis to the point of absurdity.
I am absorbing losses and do not have hedges. I regret listening to the lot of you about going long VXX. That being said, I appreciate your candor, albeit wrong-headed stupidity.
The time to be brave and filled with rage is not today. Tomorrow the markets shall plunge lower, forcing smiles out of our elected officials for successfully causing crisis.
There is a silver lining.
The PPT is hard at work, spitting out some signals that should be looked at. Get your shopping lists ready and prepare to buy QUALITY once the market turns. I want to stress that last point. Many of you are saddled with garbage, because that’s what has run up over the past 2 months. You don’t chase garbage down the toilet, fools. You flush it and buy the toilet instead (whatever that means). You get my drift.
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