I’m eating a giant bowl of oatmeal now. I felt you should know that, considering its market moving implications.
Being in cash, I really have nothing meaningful to do, aside from throwing darts at Bernanke’s beard— for fucking up my stock market crash party.
Looking at the constant pressure the bulls are under, with bear raid after bear raid, I wouldn’t be surprised to see a late date sell off. Some of the financials are still blasting off, such as [[RDN]], [[PMI]], [[FMD]], [[ACF]], [[FIG]], [[LAZ]] and [[BEN]].
However, it’s worth noting, the fucking monolines, [[SCA]], [[MBI]], [[ABK]], are sucking wind, thanks to a delay in the NYS proposed bailout. Perhaps the bailout stems from the lack of funds? Just a thought.
Look, we’re getting a nice overdue bounce back, especially in heavily shorted stocks. Make no mistake, we are in a bear market. On this bounce, instead of looking for long set ups, you should be looking for shorts.
In my opinion, the size of the recent decline is unimportant—to an extent. I will not be convinced the market is due to rally, unless weakness persists until mid to late February.
Sorry, but as gut wrenching the recent decline was, it was too short. For a real washout to occur, most of you bullish fuckers need to get debanked, entirely.
For now, I will wait for a cheaper prices to reenter [[SMN]], [[DUG]] and [[FXP]]. I will not average down in [[SKF]], unless it dips to $90 or below.If you enjoy the content at iBankCoin, please follow us on Twitter