You may have observed that I try to be somewhat evenhanded with the permabulls. After scanning the permabull boards this evening, as I am wont to do once a week or so, I am so befuddled and shocked that I feel a desire for their annihilation well up in me. This is a wasted emotion I know. My friend, I tell you, in general they are dumber than we choose to believe.
I am now beginning to think that we will have to go lower than I thought in order to have clown capitulation. I try to play both sides of this market, but I am thinking that I will allow for more on the downside that I was willing to accept.
There is a fairly large cadre of clowns with lots of money still, who will not be talked out of buying the dip until they no longer have the means to do it. I think they will see COMPX 2300 as a buying op, 2200 as a bigger one, and so on.
It's just f*cking sad. I mean, what do they think? Do they believe they can leave jobs and trade the market part-time with so little background? Do they honestly believe it's supposed to be so easy.
I am a nice man, but when they are on the other side of the trade I could give a rat's-ass about them. They have to know that it is this way -- this is meant to be a cruel business. It does not matter how much they read to their kids, what good they have done with their money, and so on. I want to take their money. If they do not want to take mine, then they have no business trading/investing.
Their hope keeps them in it and their hope keeps the market pointed down. Sweet irony.
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Down leg today had momo, eh? Intraday wave count looks evil just now, bwthdik. |
