Well, this was pretty much today:
Yes, the wicked bulls started off with high-fives, back-slappin’, and meat-suckin’ and it all ended in tears. I mean, it wasn’t a crash or anything, but my portfolio did just fine and dandy, and it was heartening to see all the bombastic bulls get bloodied. Couldn’t happen to a never bunch of fellas.
The two most important charts to me were the small caps, which burst into an orgiastic rally when the market opened, only to vomit all over their lapels:
And, of course, energy, by way of XLE, which seduced a whole crew of investors to their self-induced slaughter.
Incidentally, I’ve decided to go to Jackson Hole the last week of this month. Never been there before. And it occurred to me Powell will be there. Gosh, I hope I don’t do anything rash! Golly!