I’m not sure what it is – – the season, mass insanity, or what – – but as bad as 2021 has been for the bears in general, only in the past two weeks have things become absolutely savage. One glance at my virtual account proves it:
An over 50% drop (over $10 billion, which is big money, even for Elon, and certainly for Elizabeth!) in just a couple of weeks. INCREDIBLE. And this morning’s vomit higher with XLE didn’t improve my spirits, although I am still hanging in there steadfastly.
(Let’s just say thank God for crypto, since the profits there are keeping my chin up).
I will share one fact with you which, with all due respect, is none of your danged business, but I think it’s very indicative of the moment: over the past few days, I have been flooded, and I mean FLOODED, with cancellations.
This just breaks my heart. It really does. Although every single person – – EVERY one – – has told me in some way or another that they’ve simply given up on trading, I still take it really personally, even though I shouldn’t. I bust my ass on this place, and it just tears me to pieces that whether or not a person stays or goes has more to do with the machinations of this utterly contrived market as opposed to the effort I am putting forth.
My point is that, if you’re looking for a contrarian signal, take that as a potential one. Because it is honestly unprecedented.
