Wexler gets even more bearish.
Nothing has happened to change my market outlook, in fact, I think market risk is increasing at a horrific rate. Those that have been following my thread know that I have been unloading lots of stock over the past few weeks and selling calls.
In the same way we have been buying quality issues on pullbacks since the bottom put in last October, I believe that any rallies in the short term should be used as a selling opportunity and a shorting opportunity - especially in the small-cap frauds such as GUMM, REFR, MCHM, ERTH, etc. In the event investors start chewing their fingernails over liquidity, these issues will crater so fast it will be nearly impossible to get in at a decent price. I would also say that the risk in shorting net stocks - particularly putrid issues such as CUST, IDTC, BAMM, etc. has diminished significantly.
P.S. For those of you looking at bearish sentiment as a contrarian indicator...you are making a terrible mistake. This type of market climate is very hazardous, and we haven't even begun to see any signs of capitulation. |
