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Something just occurred to me that I thought I’d just throw out for group discussion.
When I think about the “big bounce” and the “bigger plunge” that I keep talking about, just about every stock I look at has a future resembling this. (This happens to be Ford, symbol F, but it honestly makes no difference).
It seems that folks assume that since we’re at the cusp of yet another massive bailout, it’ll be “off to the races” on equities, and a stampede toward new lifetime highs. Allow me to share the chart below of the S&P 500 back in the financial crisis. I’ve marked with an arrow the point at which TARP was being voted on in Congress, kind of like the Corporate Welfare Act is right now. Just sayin’.
As a side note, I am once again out of the market. 100% CASH. I made profits on every single one of my Friday shorts, and at this point, I feel I’m playing with fire. I’ve had a fantastic quarter, and………enough is enough.
Hoo Hoo Hoooooooooo. Would ya look at that?
I’ve been wringing my hands all weekend, wondering what was next. We were limit down for much of Sunday. When I conked out, we were almost limit down, about -110 on the ES. And then I woke up, fire up the ol’ iPad, and……..Ho Lee Lord!
