There is a simple truth that bears should accept now. I know I have. It is this:
No matter how "right" we are from here on out, there's always going to be a certain contingent whose rejoinder will be: "Yeah, but you missed the March-September rally!" So no matter how much money you/I wind up making – – even if it makes the countertrend rally unimportant in the long run – they're always going to have their arrow in their quiver.
I think of it as our Monica moment. Because even if Bill Clinton is cyrogenically frozen – and in the year 2175 they thaw him out to discuss the distant past – the fact that he presided over an eight year stretch of almost uninterrupted prosperity will be overshadowed by the experience he had with a chubby government clerk in an elastically-exhausted thong.
So, let 'em chortle. I blew it – I know that – and I hope I've learned some lasting lessons from the whole experience. But as things stand now, I'm preparing for the next big move, which I have no intention of missing.
