This was good. “The Fly” was a very happy camper, despite never going camping, as all of his positions, with the exception of MVIS, shot the bears–then rolled on them.
I know the bears will try to make the “hedge funds will sell due to redemptions” argument, but it holds little water.
Days like today serve as lessons to never sell short, into extreme weakness.
It’s easy to make the bear argument, discount stocks for dead, and be a miserable fuck.
It’s hard to buy VMW down 11, knowing that shit will sprint higher, as soon as investors grab their marbles.
Barring “another big shoe to drop,” I think the bottom is in; feel free to get drunk and start buying stocks again.
Starting tomorrow, my buy list includes VMI, BWLD, CLX, CN, FMCN, VMW and CFC.
In short, it’s good to see green again, much to the shorts chagrin.
NOTE: XFML‘s numbers look good, thus far.If you enjoy the content at iBankCoin, please follow us on Twitter