Why does everyone attempt to call bottoms or tops? Every fucking time the market spikes, all the assholes come out of the woodwork, exclaiming “this is it. The bottom is in.”
Retarded analysts, like Dick Bove, make absurd market calls, emphatically declaring the bottom in banks.
Look you, it’s not important to know when the bottom is in or not. What’s vital to your account statement is the proficiency of your asset management. Instead of guessing or throwing dice at stocks, invest with caution.
For every spike in [[C]], there is a “homo hammer of death” in [[CIT]].
In my opinion, all of the headline risk is to the downside. Taking long positions is okay. Just do it in moderation and do not be tricked by the assholes who have a vested interest in getting you back to the casino.
Keep in mind, we have yet to see significant job losses. If you think times are tough now for the mortgage industry, wait until national unemployment is at 6.5%, like it is in California.
I do not have an interest in playing bounces, or 1-2 day moves. For now, I am gearing myself to take advantage of the negative headwinds. If you think about it, the only time the market spikes is when the Fed intervenes.
Eventually, the Fed halo will vanish, as it did in 2002.
In short, the volatility is insane, making it nearly impossible for neutral swing traders to make money.
With my money, until I see significant blood in the streets, not this paper cut shit, I will keep my bias to the downside.
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