To be serious for a second --
I have a question for the whole thread. One thing we have cursed at many times, but never explicitly said, is that as bears we are truly swimming against the tide.
I for one have adopted a Mike Burke/Wayne C approach of buying puts on the fluffy big cap tech crap and buying smaller cap, value-type plays.
But in fact, every incentive in the world exists for exactly the opposite approach to work best. On the bulls' side, we have (1) all of the shills on Wall Street, (2) every wind-tunnel tested hairdo jackass on CNBS and CNNfn, (3) Easy Al and the Fed, and (4) Clinton and his den of thieves. In short, the bulls' mentality is completely and utterly institutionalized. Every bear on WS of any substance except for Bill M. (and of course PM's like Fleck) is being driven out -- Don Hays, Chuck Clough at Merrill, Michael Metz at Oppenheimer. On our side, we have Luc. <g> My poor value stocks continue to languish as they are not on the Wall Street radar screen and thus do not gain the benefit of the Monster PR machine.
Thus, my dejected thinking is as follows:
For the bull to actually die, despite the best efforts of all of these clowns, we would need a truly disastrous convergence of events. This could (and IMO unfortunately will) happen, but then we are left with the resulting aftermath. It will NOT be a pretty place. And then WTF do we do? All move to Waco TX and open up a Myth Thread compound?
I just don't fucking know anymore. I cannot believe the bull is on the rampage yet again, but yet I have a hard time rooting for the bull to totally collapse.
What do you all think?
-- Robert |
