100 More??

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Early this month, right near the market’s lifetime peak, a well-known Sloper left a comment that essentially admitted that, based on some long-term metrics, the market was still a good value, and it made sense that it kept getting bid higher.

I just about leaped through the screen to strangle the chap. “They got you! They got you!” I felt like I had lost a child to a cult leader. I don’t remember who it was, and I’m not going to seek it out, but I remember being vaguely disappointed.

My own opinion – – surprise! – – is wildly different. I think the Dow’s true value is much closer to 0.00 than 30,000. I am thus heartened to see equities continued to bleed out. as the RTY minute bar char indicates.


Vastly more exciting, the similarities between the top early this year and what we’re experiencing right now is nothing short of electrifying.

rty hr

I have 48 stock shorts and 4 big ETF shorts, rolling up to a commitment level of 168%. My max level used to be 234%, but you may have read Interactive Brokers – – fearing Election Madness – – has ratcheted their margin way back, so I don’t think I’ll have the gunpowder that I used to have.

Indeed, there are 100 — count ’em, 100 – – beautiful looking prospective short setups in my Bear Pen (which my beloved Gold and Diamond members can review at any time of any day, with my own mark-ups). I’ll run out of money long before I run out of short ideas.

Anyway, good luck out there. After all, based on some long-term metrics, the market’s just a steal right now.