On a day like this, when bulls the world over are give each other circle jerks and slaps on the back (hopefully not in that order, since hygiene is paramount), you would expect Tim Knight, the Sangre de Cristo of bears, to be weeping from the cross. Well, things have sucked out loud since that ridiculous Brexit fiasco (e.g. 1 1/4 days of selling, only to be aborted by the CBs worldwide). Indeed, I feel like the bears (correction, bear………that would be me, now castigated even by his own readers) is in a Kobayashi Maru market:
Virtually my last hope at this point, as I keep mentioning, is oil. That green line is key. It seems folks have forgotten how much of a grip oil had on equities. My view is that a descending oil market will re-assert its power over stocks, should it slip lower as I am predicting.
As much as I whine and complain – – and remember, there is no more self-pitying soul on the planet, either now or in history, than your long-suffering host – – something important dawned on me today: in my life, while many battles have been lost. I’ve always won the war. In spite of many troubles, most of which I’ve never mentioned, nor will I ever mention, within the hallowed walls of Slope…………I won the girl………..made the money………had the terrific offspring…..and all the other blessings to which one might aspire. I have an amazing life.
Yet I’ve always wanted a silken smooth road, but I’ve never received it. And yet, somehow, in the end, I finally get what I want. I feel a kinship to James Tiberius Kirk (whose character, eerily, was born the exact year I was):
I don’t like to lose. And, yes, as with so many times before, I’ve lost the battle, and I’ve lost today. But stay tuned.