______________________
This post might ruffle a few feathers in the world where trading, tweeting, and blogging intersect, but that’s fine by me. I might be a gentleman, but maintaing a top shelf blog means that I have to occasionally let it rip.
I have to laugh at how self-righteous many gurus outside of the sacred iBankCoin corridors are becoming right now, given the very weak price action in the market of late. They pound their chests as though no one will remember that they have been the epitome of a broken clock calling top after top after top after top after…since March of 2009, and probably well before that in the 1982-2000 bull market for those old man bears.
Bearish arguments are attractive to many market participants and observers who fancy themselves to be deep-thinkers for a variety of reasons. First and foremost, the bearish thesis usually seems carefully crafted, void of emotion, and just the sensible thing to do for people who consider themselves to be superior to a society filled with miscreants run amuck in a bull market. Beyond that, contrarians, such as those wannabe Fight Club losers, actually derive sexual pleasure from the bear case, as it fills a massive void from all of those days being thrown up against their high school gym lockers and robbed of their lunch monies (numerated in proper gold coins, of course).
Now, look, I understand that if you are a new reader you might be thinking that I am writing this to act out any nervous energy I might have from being “balls to the wall” long. You would be wrong for thinking that, as I have been either in heavy or full cash over the past few weeks (100% at the moment). Let me be clear in stating that the bears might win this one, and I will be right alongside them shorting when I feel the time is right. By no means have I nailed every single market fluctuation, but a look through my archives will yield the April 2010 top, the July 2010 lows, staying bullish through last fall’s uptrend (see multiple posts in archives), turning cautious in February of this year as we sprinted past 1300, among other individual calls that proved true.
Basically, outside of the iBC universe of businesses, there is no other technical/swing trading blogger who puts as much content out there, in terms of specific market analysis, as consistently as I do. Plenty of “talented” guys come and go as they see fit, leaving you hanging out to dry just when you became accustomed to reading their thoughts on the market. Why? Because there are a lot of phonies, two-bit hustlers, and immature kids in this business. But beyond that, I have more heart than all of them combined. Do not misconstrue who are dealing with here: I paid off all of my undergraduate and graduate students loans via playing poker full-time, with no old man to foot the bill, as he had long passed away. Although I am still relatively young (31 years old), when it comes to hustlers and cons, I have seen it all.
So, consider this fair warning to all you sleazebags chomping at the bit to steal my business, and those of you who think you’re about to knock off iBankCoin with this market downturn: You will fail and fade away, just like everyone else that has tried. Want proof? Look at the quantity and quality of my archives, and the quality and quantity of content that iBC puts out on a daily basis for active traders and market observers alike.
Checkmate.
