Two Months and Ten Percent

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Tonight’s post is going to be exceptionally short, because I am exceptionally busy.

I will note that I have recently been uncharacteristically courageous and confident with respect to the market. It is not because the market has been collapsing before our eyes; on the contrary, many indexes have been vaulting to lifetime highs on pretty much an every-other-day basis.

However, for a variety of reasons – – some known, others confidential – – I have a firm belief that the song and dance from Bernanke & Company shouldn’t turn me off shorting. I have been getting increasingly aggressive, and as I type this, I am nearly 100% committed (94%, to be precise) with 90 different positions.

I offer the chart below of the NASDAQ Composite, which I believe may be heading for a 10% drop over the next two months. This may seen an insane conjecture in this “Bernanke/Yellen Put” environment, but reality be damned, I think this is the most likely path ahead.


I will not continue with my evening, and I’ll see you here in the morning. Pray for rain.