Ladies and Gentlemen of The Jury

Only one short year ago, at this same tax deadline juncture, markets were in ultra extreme turmoil [sic]. Hundreds of thousands of puts were being accumulated each day, VIX was elevated, and more stocks were hitting 52 week lows then highs. It had a different feel. It felt like a sweet opportunity to go long.

This year everyone is cavorting about town with rose colored sunglasses on. They admire the neighbor’s wife while stuffing their faces full of barbecued meats. The collective life of man is in a state of gluttonous bliss, drunk on the spoils of speculation.

Despite my bearish demeanor and willingness to pen it upon the finest internet quarters the world has to offer, I have no intention of proselytizing the bulls. Bulls have done well. The wind is on their buns. Also to clarify, I am mostly long. However, I am not as long as I was on Monday, and I want to be, slowly, from lower.