The Bear Market Has Been Paused

I bring you nothing but bad news. The market collapse we had hoped and dreamed would happen in October did not happen. It wasn’t pleasant and bulls certainly got kicked around — but no crash. Since we’re lifting again in brainless dodo bird fashion, I decided to join the fracas for the sake of my performance sheet and sanity.

I held onto my semiconductor short for as long as I could — but in the end gave it up as markets spiraled higher. Today’s reversals are most scene in the Russell 2000, an index up just 9% over the past 5 years vs +108% for the NASDAQ.

At any rate, there are strong seasonal trends favoring the bulls into November and you’d be wise not to underestimate the power of the gravy. Heading into late afternoon, I am +43bps. I tell you these things so you can have peace of mind, knowing full well “The Fly” is ready and able to take care of himself in any environ. Just know, the market could be +5000 or -5000 on any given day and I would have adapted to it like the consummate professional that I am, boasting of a +50bps gain during that extraordinary session.