2 Now that iBC has (re)introduced 248 new bloggers, I figured it was time to crack my knuckles and start banging on these here keys again to regularly express my thoughts regarding everyone’s favourite (sic) tale of whimsy: yes, I’m talking about the stock exchange.
It’s all about the levitation at this point. The ether is flowing and everyone is in a constant state of bliss. Losses cannot and WILL NOT be tolerated. Unchanged is the new DOW -300.
The best part was that time when the market plummeted over 100 points in 40 minutes on a (excuse my language) fucking rumor about teh Bernank cutting off the crack rock.
Seriously, what the hell IS going on out there?
Hell, even everyone’s favorite “hedge”, $VXX, is positively correlated with the market (ok, not really).
My portfolio stands at 52% cash. This scenario is exactly why I have allocated 30% of my capital to a broad market ETF. Even though I’m scared as hell to get long here, I still have a decent amount of exposure to the broad market that I’m continually making (albeit muted) new highs each and every day.
Yes, yes, it’s true, my gains pale in comparison to even the broad market (and, yes, for that I feel like a retarded monkey). It sucks being in a place where I’m trailing by so much, but am also extremely leery of the rug being pulled out from under us.
Aside: I feel that prospect is more real than ever before. the AP account is hacked and Prezident O’bama is hurt, next thing you know, bids disappear from the market. As mentioned earlier, allegedly a mere rumor of Bernanke cutting off QE caused a minor panic. I have no confidence in this “rally”…it’s all fantasy…play money.
Thus, I have basically closed up shop in looking for multi-week/month trades like I was earlier this year. I’m letting what remains of those positions ride for the time being and am focused on very short term extreme oversold trades.
I have developed a system, and it has been very successful so far. @eliza_mae_ibc #knifecatcher is where you can tune in for the play-by-play. More details to follow around here.
Until then, lever up those accounts to as great of an extent as possible and buy as much of everything as you can, you cannot and will not be allowed to lose.
-EM
2 Responses to “Vince Lombardi Says it Best”
Sooz
yoo~hoo..,rodeo clown, cross~walker and best story teller/writer, where have you gone?
making big bucks,yes?
Sooz
That’s exactly what I shouted just a moment ago( Mr. Lombardi)..
Due to weather..mostly(?)
I don’t ever recall having to wear snow gear ,summer gear and back to snow gear all within 1.5wks in late May while tending to lawn maintenance.
from 35°F~90°F~ and at this hour reading temps 44°F within that time frame.
I swear I saw a snowflake out there..along with ice balls falling from the clouds.