Well, the Dow ended down zero point five eight percent, meaning that 99.42% of the bubble is still fully intact. In spite of this miniscule drop, ZH is breathlessly reporting that it is the worst drop in the Dow since January (wow! January! That was, like, a whole month ago!) and I, frankly, had a pretty damned good day. (Thank you, well-chosen short positions).
Let’s all keep in mind that the anti-Christ Janet Yellen has her big event on March 18-19, and that’s probably the biggest risk (or, perhaps, opportunity) for bears this month. Why this woman gets paid to do what she does is quite beyond me. In any event, earth’s financial dictator will have her little moment in the spotlight again, and we’ll all just have to cringe our way through it (particularly if, having learned nothing from the myth of Medusa, you actually have the video on too).
Our friends in Gainesville have been so humiliated over the past six years, they are calling for “new highs” forthcoming in the indexes, which gives me more comfort than you can imagine. Once those new highs fail to transpire, I’m sure the waves will be conveniently re-labeled, permitting EW follows to retain their 100% prediction record.
For myself, I’ve been shorting, and shorting, and shorting some more. The quantity and quality of short setups is a beauty to my eyes. Speaking of eyes, all of my dogs are staring at me right now, so I should go walk them. I’ll come back later and put a video together. See ya!
