Had you listened to Cramer’s bottom call yesterday, you were “ape raped” today.
Listen to me. I know you have a naturally bullish disposition. You want flowers to line your white picket fence and champagne to flow from your garden hose. You want things to go your way, while absurd misfortune strikes your neighbors.
I know. Believe me; I was once like you.
I remember buying stocks into the 2000 meltdown, with reckless abandon. Vividly, I recall losing a personal fortune, all the while Larry Kudlow and Ned Riley were telling me “everything is alright.”
Things aren’t alright. As a matter of fact, things are entirely fucked, stemming from the debanking of America.
Not just the consumer, mind you. The country is broke, like a crackwhore in a prison cell.
This is what I want you to do:
Take out a sheet of paper and write down all the pros and cons of the economy and stock market. Then, take that list and recite it to your wife, since she is much smarter than you and does not think with her anatomy. She will give you cogent advice.
As you know, “The Fly” took off his bank hedges, with precision. He is now net short the banks and a variety of other names, like [[LVS]] and [[VMC]].
My only regret is holding commodity stocks, since they are being “ape raped” too. Nonetheless, I remain steadfast in my belief that I will be right, while everyone who bets against me is wrong, naturally.
Pile on NOTE: Check out Cramer fav [[PH]], part of his group ‘new technology’ plays, around $90.
UPDATE: Mr. Mortgage on the Wamu non-event, which was hyped by CNBC.
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