I think this is a huge bear trap as I don’t even know why people are so bearish at this point. S&P is still up over 50pts from June 4th overnight low.
For those who are unfamiliar if you are a bear you are a nefarious creature clad in burlap. You are betting against society and everything good. That’s why no one will show any sympathy if a bear loses. They deserved it anyways. There is a important reason for that. If you are buying and holding stocks, you are a contributing to what is good in the world. If you are shorting them, you might as well be killing little animals with kitchen cutlery.
At first I didn’t understand why people hated my “short game” so much, which is impeccable by the way. I was on the C-train one day, going to the Saddle Dome to catch a show, and some random asshole started talking to me. I look like a nice guy, maybe even approachable. He continued to ask me what I did. I let it go in small chunks, hoping his direction would be caught else where. When I said the word stocks, he almost shit his pants. He said ‘aren’t stocks getting killed in the market? You must be having a hard time!’ I replied, ‘I would be, if I only bought stocks’. ‘Does that mean short selling’, ‘yes’ I replied. He literally started yelling, saying ‘that is so fucking bad’, and other alarming things and told me to get a real job – a trade skill. I laughed a little, but was mostly confused, as this caused quite a scene on a busy train cart. I should of gave him the stock tip I had been reserving for enemies – ANR (when it was much higher).
So the lesson is, if you want to make friends with bulls – have some respect. While you are winning, they and everything in the world is losing. The world rather you lose. It will always been seen like that. That is why the only reason to short stocks is to buy lower. We can coexist. But not tomorrow. Tomorrow the bears die.
They say bulls make money bears make money pigs get slaughtered. On a 100 year time frame, only bulls made money (Index). People spread around the doom and gloom too freely I feel. They feel its safer because the market has been lower for a couple months, so it is prudent advice. They lack the experience to know how stupid they will look exactly one day from now.
If I’m wrong and we head lower, have some Etiquette.