I've retired to this pleasant backwater, to live out my days swatting mosquitoes, after being hounded out of the thriving metropolis upriver for not attending the right church. I was denounced from the pulpit, as I should have been, because any suggestion that the market might go down is ridiculous -- or worse, offensive.
Message 17231114
The point, Bobby -- and I don't mean this at all unkindly, because I do respect your analysis -- is that to some extent your comments were to be expected, that they were predictable, because bulls aren't amused by the troubling, heretical notion that the market can go down as well as up. It seems to go with the territory. They don't like to see bears crap on their fertile cowpies. They like to be left in peace, where they can live peaceably with their delusions, and with their hope that the market, as overvalued as it is, will break to the upside. It'll all be like it was in the 90s again -- it really will.
A lot of the bulls withdrew back into the woodwork over the past couple of days, when the eagerly anticipated breakout to the upside didn't materialize. I made a pretty harmless observation about a bullish prediction on Tuesday, because it was my impression that a bullish post hadn't, in fact, called the top, and I seem to have inflamed the passions of the diehard bulls. For some reason, bulls are often annoyed by bearish posts and vice versa.
I don't know why people take such exception to posts that take an opposite view on the market. The posts are all just so much wind. They have no effect on the market. In my stupid opinion, it's best if every point of view is aired.
Which brings to mind something seen on a gravestone: "Let your wind go free, where'er you be, for that's what caused the death of me."
Funnily enough -- and I warn you, I'm going to say something really objectionable again now -- it can be said with at least some degree of accuracy that the market does really go down as well as up. (That's an astonishing heretical notion, I know -- one not given much air time in the sitcoms on the financial channels -- but a team of statisticians and mathematicians is working on the proof.)
Now what was the latest prediction, that there'd be one or two down days, and then the market would break to the upside?
Anyway, all that aside, here are some announcements: The clothes closet for needy bulls will be open every Thursday morning at 10 a.m. You can find affordable shoes, coats, woolens, etc. So far, we haven't seen a need to reopen the soup kitchen at this time, but we're prepared to open it at a moment's notice. Maybe next week?
Downtrend still intact at this point, but things can change quickly:
ST Naz CI: 82.754 95.285
MT Naz CI: 87.892 97.206
LT Naz CI: 95.262 98.705
ST S&P CI: 84.000 97.231
MT S&P CI: 89.167 98.810
LT S&P CI: 96.956 99.473 |
