Here we go again. Here we go again.
This market is hell-bound determined to drive every single one of us nuts.
It was 4 in the morning, and I woke up worrying, as I always do, about what's next. My post yesterday, rightly titled "Beaten" and tagged with a "Defeat" category, grudgingly admitted that I had held back my impulse to wretch violently and had bought some stocks for safety's sake. (I am still net short, as I always am, but not aggressively so).
So, naturally, this story from ZH tells us the news: Italian bond yields are exploding higher, and the world's markets….which until, oh, not that many hours ago didn't seem to break on any news, no matter how bad…..are suddenly in a free fall.
I have 75 short positions, so I'm not that miserable, but I already hate every single one of my 16 longs, and I hate even more the fact that I have no large short ETF positions.
And just you watch. Something completely retarded will happen – – Herman Cain will announce a new Pay-Per-View Porn channel or something – – and everything you are seeing right now will be completely erased.
Bitter much, Tim?
