I’m not sensing any panic in markets and the people I know who trade are almost all united in their allegiance to the Order of the Bull market. I’m not obnoxious to the point that this should get me nervous. There are some who believe the sheep always lead to slaughter. Again, obnoxious. I’m more of the belief the sheep will lead to where the food is hidden. Follow the sheep and BAAAAH like a sheep, and then head out when the wolves come.
Are the wolves coming?
I think if markets drop hard next week we’ll be entreated to a lot of heart attacks amongst the pledged elite in the bull camp. Many will lose faith and start to become afraid of October and what it has meant to markets in the past. I do believe next week is a pivotal moment for stocks in the interim, a make or break time for stocks that could lead to a very healthy bounce and continuation of the rally, or a complete panic, led by a mania and throngs of traders spilling out of their high valuation positions in search of safe haven.
You’d be wise to adhere to your stops.
At this stage of my blogging career, the last man standing in finance blogs who doesn’t cavort the globe atop a bicycle, if you’re not selling positions after they’ve gone down 10%, I’ve failed you. Either that or you’re an idiot. And please, do not take offense when I call you an idiot. You really don’t have a choice in the matter. We’re all born into what we are. Some of us are brilliant artisans and scientists, and others are plain old idiots who resort to criminal acts of depravity for leisure. Life isn’t fair sometimes and we don’t choose to be here. We’re all sort of tossed out into the world and told we could be President if we wanted to. Truth is, none of that is true. But if we’re wise enough to know our limitations and to learn by shadowing others who are both smart and decent, we might just make life interesting enough and profitable enough to be worthy of a legacy.
Enough shit-talking. Futures will mean nothing tonight. Head on over to Exodus and be sure to watch the opening hour of trade with us. We’ll figure it out.Comments »