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I stayed in bed for this one, folks.
Don’t let my suave demeanor fool you. As you well know, I am massively, massively, massively short this market, and having a binary event like the CPI come out had my heart racing. I literally pulled the covers up, gripped the iPhone, and let my three dogs surround me to guard my spirit.
Let’s just say it worked out……….
This bear market is, as all bear markets do, moving in stages. The tech stocks and SPAC stocks were the first to start cracking last year, and the damage will continue to spread. Even now, in the second inning of this bear market, I am amazed how many lifetime lows and 90%+ wipeouts have already taken place. Incidentally, every other tweet I am reading talks about how they’ve covered all their shorts because a squeeze is coming Real Soon Now. OK, fellas. You do that. I’m not budging.
