Just moments after my tastylive show ended, my fiber optic connection stopped working. AT&T denied any problem at first, but soon enough, they sent out a notice about a microscopic part of Palo Alto in which there’s no service. Lucky me!
Thus, I’m relegated to squatting outside on the deck with my cell phone acting as my only connection. This is all yer gonna get, bucky. I’m hobbled. I still go to bat for my readers, Internet or no Internet. I’m stupid that way.
Not that it matters that much. When the market is in a free fall, everyone’s my friend. When the market is rising because of some buffoonery from the chief buffoon, Slopers’ backs all turn. I see the snide little remarks. Thus, it’s just me again. Tim the lonely and only bear. Everyone else is just a foul weather friend and poser. The spirit is willing, but the flesh is weak. Very weak.
Not to say that it was a bad day. Indeed, even though the market vomited up a little bit more bounce:
Almost all my bearish positions were doing fine, in spite of the geniuses paying historically high prices for stocks, and even those that dared to go up barely made any progress.
Neither is this to say I’ve gone ga-ga aggressive. Maxx, you imply some serious premature anticipation on my part and prefer to wait until things are clearly in a free-fall before bothering to short, so, yeah, you caught me, I’m jumping the gun. I’m at 25% cash, and I confess I’d be more comfortable with VIX at 14 or 15 as opposed to 17.
The only big event scheduled this week is the CPE on Friday, which is basically true inflation divide by three. Of course, your hero is really the main source for market movement, and that’s something which is decidedly unscheduled. Still, it is within the realm of possibility that the bounce is done or close to done, which surely will provoke more sneering remarks from the likes of Cougar, but I’m but only a humble chartist and share what I can, such as:
So, there you have it. The one and only true bear, ducking oranges and cabbages from his own readers, yet sticking firmly and foolishly by his belief that the jig is up. Onward!
