Yet again, the market gets bailed out by some sort of crazy Government plan. If you notice, the only time the market rallies is when the Government is intervening. Fucking socialists.
Coming into today’s trade, my cash position was too big. So, as a result, I put a small percentage of it to work. Now, I never try to time bottoms or tops. It is very likely I will be under water on much of the shit I buy or sell today. However, that’s why it’s important to buy in increments.
I expect the bulls will try to bring the market up, by the short hairs if need be. My perspective is vastly different from theirs.
I’m not looking to get cute. I will not buy a few bad stocks, in order to take advantage of a short lived rally. Since my bias is to the downside, where I deem all the risk remains, it’s nonsensical to go long. If I did that and lost a boatload of bullshit dollars, I would not be able to swallow it. It would eat away at me forever.
As you know, “The Fly” lives and dies by his convictions.
Ahead of next week’s rate cuts and brokerage earnings, anticipate a lot of volatility.
NOTE: With [[SRS]] reversing from $120 this morning, down to $111, I like my chances of a short term rebound here.Comments »