Three Guys in Pajamas Led Us Astray

Where is that grandiose 100 point snap back the futures market promised us? Right now we’re about flat; but the under current is negative. Those 3 guys in pajamas that Cramer has talked about, always playing with our futures markets, have done it again.

Biotechs are being hit, once again. It feels as if nothing can pull the market out from its doldrums. Then again, every single downturn that I could remember felt the exact same way. Eventually, you give up hope and quit calling for bottoms. At that point of indifference, the market will rise, catch everyone flat footed, then proceed to bash in the fucking skulls of all of you who were so mean to it, selling it short and casting aspersions, releasing midnight bearshitter movies on the internet (extra Icahn) and the like.

This is a depressing time to be a bull, or anyone who manages money on a professional level. Bear markets and recessions are man-made creations of abject idiocy, formed from paranoid thoughts and projected depression. They’re almost self fulfilling prophecies, so don’t discount the offal you see and hear on the teevee, for eventually the fantasy will become reality and all of your money will be gone. Poof, right into Jim Chanos’ purse (extra homo).

These drawdowns are expensive lessons and thw Dow is now off 50 and the NASDAQ is off by 20. The stories might be imaginary; but this fuckery is real.