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I was originally going to title this post “Jackie DeAngelis Must Die”, but I thought she might take it the wrong way.
Anyway, earlier this week, Ms. DeAngelis “interviewed” famed short-seller Bill Fleckenstein on (gack, choke) CNBC, every permabull’s favorite network. Right out of the gate, she attacked him:
You can watch the interview at the bottom of this page if you want, but I can save you the time by simply stating Mr. Fleckenstein was ambushed by a trio of CNBC permabulls, deriding him for missing out on the past five years of market rally. (more…)
I was drawn to the chart of Rent-a-Center based on the fact that it seems to keep failing on its bounces to around $30, but my interest in shorting in was heightened only by the fact that, frankly, I think businesses like this are kind of scummy: they exploit the desires of the lower classes for the goodies and gee-jaws of their better-situated Americans by allowing them to rent, instead of own, consumer knick-knacks. The whole thing smells bad to me, thus I take particularly joy in shorting them.
I guess this isn’t exactly what they expected from the “good news/relief rally” of a “NO” vote for Scottish independence. The ES is shown in blue and the British Pound versus the US dollar (which one would expect to be exploding higher right now) is in black.