I certainly am enjoying this market. And, as always, I feel utterly alone. Everyone has been so poisoned by the past ten years, they have lost all their moorings. Attila, who typically makes me look even-handed, has been a raving bull for weeks now, shouting about 3400 on the S&P. And yet he keeps getting blown up. And that’s to say nothing of those on this very website who have, day after day, declared the dip is through.
The charts below are representative of the kinds of moves my shorts are making. Once the patterns get done, it’s showtime. And I’m covering nothing. Zip. Just tightening stops.
Oh ye of little faith.