Yes, this is the type of mood the perma-bears clamor for. I imagine all of the bears are dressed up to the nines today, with two blue blazers and burlap ties to match. They see the news and get sexually aroused. The more revolution the better. Every time a Libyan fighter jet drops a 2,000lb bomb on protesters, they applaud. I am not suggesting that perma-bears are evil—quite the opposite, actually. It’s always been my position that perma-bears are crazier than a butter sandwich wrapped in bacon.
Talking fast, with crackers and cheese falling out of their mouths, they warn you of the tough times ahead. They tell tall tales of crisis and how the stock market is both fixed and should trade lower. It’s mental impairment at its finest.
While it’s true, markets do ebb and flow with investor sentiment. It’s also true that the proverbial glass cannot always be empty.
In summary, beware of listening to people who have never made a dime in this market, for during times of crisis, their voices tend to be heard most. They are idiots of the first order and should be treated as such.
Having said that, I’m not selling shit, based upon 1 bad trading day. The majority of my positions are in gold/silver and oil. I do not own any of the shit that is getting blown out today. I am down a rather tepid 2.5% today. I say tepid because most high beta names are down more than 5%. Always remember, Ben Bernanke has your back. Go to sleep knowing he will defend you, sword in hand, whenever times get tough (2% sell off or more). It’s almost comical; but it’s true. The bears are setting themselves up for another power packed punch to the neck. Anvils and shit will be released from the heavens, through their bullshit roofs, onto their skulls.
Once the House of Saud falls, great fortune will befall those who are long oil. Wait for it.
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