Hehe! I got a TON of emails from you guys saying how I'm wrong and we'll see new lows in December. Wow, tell ya, used to be I'd get that many emails when I was bearish, now I get them when I am "bullish" or at least less bearish! Hehe! Well, ok, thing is, we VERY easily could see new lows, but just remember that nothing ever goes in a straight line and typically by this time most fund managers have dumped their unwanted losers. I know, I know, a lot is being written about how redemptions are going to dump the market into year end, and like I said, it very well may happen, I just don't see the advantage here of being overly bearish. Remember, I've been bearish the whole entire trip DOWN! I've had my best year in a long time, made a TON (more than a ton actually) this year and nothing goes in a straight line. So, yeah, we very well may go to new lows, but I am not so sure, and I think at least you are 50/50 here as a bear into Obama's inaugeration. The markets worship the next President and every time he opens his mouth we rally. Do you think we'll see tankage into the HOPE that he turns things around? There's a little over a month until he is sworn in. IF we do tank here, great, we'll catch the bounce into that, but my guess is that the lows have been see into year end baring some news they can't shrug off. That's possible, but there's a lot of people buying stuff and a lot of shorts covering, and again - nothing goes in a straight line. So, my point here mainly is to get you off the idea that you should just short at will, as though we can't ever rally. Market isn't likely going to zero and if it does then it means the world blew up and we're looking for Omega Man! In the meantime, I stick with my call and do not recommend being invested here long or short, I think CASH here, trading intraday and short swings is your best bet. Stay nimble. Trust me, I'm not going out and buying stocks, I just think at some point you have to take profits and wait for better entries. Already FSLR and others are providing nicer entries. Hopefully they get another push higher, that'd be awesome and we can then get back in when the time is "right" and ride them down further.
Did you guys know that Booyah heads "Charitable Trust" started the year with roughly $4.4 MIL and now has under $2.5 MIL? Maybe we should all send his charitable trust some charity! Sure as hell needs it! Amazing that people actually watch a guy who is potentially the worst stock picker in the world. Booyaherica! In Booyah we trust! CNBC runs this whole campaign around a guy who is down 50% on the year! He's underperforming the market! That's horrid, dudes, horrid! I'm moving to Kudlowmerica, its a funnier place to live! Don't get overly bearish, or bullish folks. Remember that opinions don't make a trader money, detachment and egolessness do!