I know something about attitude. Lord knows I can employ some of it myself, especially when the market is going my way (something I haven’t felt for any length of time since pre-market October 13th). But I’ve got to say, there’s some serious “attitude” over at Zerohedge that doesn’t sit right with me.
I’ve written about ZH before, since it was my favorite site for so many years. As I’ve mentioned in the past, the cliché with ZH was that no bear market would take place as long as they existed. I think that old saw should be updated to declare that no bear market can take place as long as they are bearish. They were steadfastly on the bear side from 2009-2021 but, inexplicably, have becoming absolutely enthusiastic melt-up supporters in recent weeks.
Indeed, their articles sneer when they speak of the “belligerent comment gallery” (meaning people like me, protesting their bullishness) which they also describe below as “the incredulous crowd“.
What really gets my panties in a wad is that ZH’s attitude is that anyone who doesn’t heed their declaration that stocks are heading straight up have only themselves to blame for foolishly ignoring their good advice. As they put it, “…you get not only a bunch of angry commentators who would rather be right and lose money, no matter how clearly we lay out the meltup thesis right before their eyes..” They go on to describe the forthcoming “tactical year-end melt-up” that one that “could make the August bear market rally seem like child’s play”
I guess I should be grateful. Given their track record from 2009-2021, their wild-eyed bullishness might be just what the doctor ordered. Here’s hoping for a global financial cataclysm. Crypto was a good start.