I received a flood of positive comments and emails about my Change in Tone post yesterday. I also received a handful of “What? How could you?!?! You traitor!” type remarks. So I thought I’d clarify my point of view.
The message was really more along the lines of, “I’ve had enough of this permabear schtick, and you can expect to see a greater balance between bullish and bearish ideas here on the blog. I am, after all, a chartist.” See? A change in tone.
For the record, when I wrote my post yesterday, I had 81 (count ’em, 81) shorts and 0 (count ’em, zero) longs. And the only thing that has changed since yesterday is that I have 3 more shorts. I am more disposed toward buying stocks, yes, but at these levels, ummm, I’m going to try to be a little patient except for slam-dunk patterns.
One thing that really helped me into the “Hey, OWNING stuff is pretty cool” mode is bullion. A few weeks back, pretty much at the perfect time, I bought a truckload of gold and silver bullion. It has, to date, done very well. And I confess, it’s a warm-and-fuzzy feeling seeing those prices climb, knowing I’ve got a small hillock of the stuff.
So my main point was that folks can expect less of a tilted stance and less dogma. Nothing more. Oh, and as my Slope+ readers know, I have been a “bull” for a while in one particular sector, and it has been a jackpot (which makes me feel very good, since my beloved Plus users are actually paying for my opinion). Thanks, everyone…….