You do understand how superficial the stock market is, right? People in the real world, working 12 hours a day to pay for their inflated rents couldn’t give two shits and a gay mule about Greece or the Nasdaq. There are the unlucky ones, who for some reason have been targeted by disease, whose only wish is for a “good day” and are totally ignorant to Facebook’s great big ipo blah.
For us, traders, money managers, pundits etc, the market is everything. We watch it with a crazed intensity, obsessing over every movement. We venture off to blogs and “streams” to measure our dicks to the other traders, telling them that they are “shit” and we are “the shit.” On those streams, obsessive overlords fixate on rules and appearance, all to appease their corporate hack clients.
It’s all shit.
This whole big dog and pony show is orchestrated chaos. I am having an exceptionally difficult time making sense of this because the rules keep changing, correlations that once existed have vanished, paving the way for newer nonsensical ones. Since when does an industry leader in its prime come public and ravage the share prices of its peers by 10-25% in a single trading session? You tell me.
Of course, those of you with your penises exposed, ruler in hand, will cry they were a bubble. However, if LTRO2 was announced on Friday, you’d all be down 20% by Monday, you and your stupid shorts. Pray tell me, bold jackass from the interwebs, how do you plan against another Fed or ECB statement, or even Chinese central bank action, that will once again attach fire to the faces of those in the FAZmobile?
Answer: you cannot.
The problem that most people have, when investing in this market, is greed. We’re all chasing the high stakes commodity or tech names, hoping for a quick 20% pop. Meanwhile, stocks like KMB, PEP, CHD and others, are steadily climbing higher, not giving a fuck about Europe, at all.
How am I supposed to justify staying long with Europe devolving into chaos, TLT north of $124, whilst commodities and stocks are in crash mode?
The answer is naively simple: I’ve been trained to expect a bid from the Fed or ECB. Over the past 4 years, I’ve witnessed crazy shit and just when I thought there was nothing that could be done to save “the system”, BAM!, the system got saved. Perhaps this is “the big one” and perhaps I will finally get what’s coming to me. I’ve dodged so many bullets, these past 4 years, it’s only a matter of time before one hits.
Nonetheless, my position is more tenuous than ever before, despite still being up 2% for the year. I feel as if a wave is about to come crashing down on my head and I’ve resigned myself to face it head on, instead of wavering for shelter.
6 mo carnage of GARP index in The PPT (these are “value plays”, down 20% in recent weeks, approaching 6 mo lows)
