Sorry it's been a little while since I posted (late yesterday). I have a real job, ya know.
I just wanted to say that it's obviously really easy to be a wild-eyed bear when the market is getting blown to pieces and everyone is running scared. It's times like right now when it's far more challenging. You've got…….
- The federal government blatantly saying they will support the stock markets by plunging the country as deeply into debt as is necessary to keep old friends on Wall Street happy
- A public that is dying to have their bull market back
- Mass media which is touting every possible reason to plunge back into stocks, stating how cheap they are, and stating how bearish everyone is (for the record, I find investment sentiment indicators to be utterly useless in either direction).
I look at the graph below, and in spite of the bulls taking this market on a ride lately, I am not afraid. Now, if we go blasting above $73, then I'll start to worry. But for now, I am adding to my index put positions, since I think the public is getting suckered in……….yet again……….to a place they will regret.
