K-man,
Good morning (and it is early out here).
Let's try to grab a little bit of perspective here. If, 3 months ago, someone would have posted that the summer crush would see the Dow down from over 10,000 to 7800, the Naz down from 1800 to 1229, the VIX up over 50, what would have/should have been a savvy investor's reaction?
Pretty clear, isn't it? The markets and their constituent stocks are a better buy than they were just a quarter ago, and all the indicators are screaming oversold, oversold.
And yet, one by one, the bravest among us have sold their positions and gone to cash. People start buying when the VIX is at 38 and then sell when it's at 50?? Whassup wid dat?
I'm not standing on the ramparts here shouting once more into the breach, but I can recognize all the symptoms of a summer bottom here, and it's not far. A lot of that feeling is in the gut, of course.
You mentioned white knuckling it a while back. Are you there yet? Back to two of my favorite movies: "Is it safe?" and "Do you feel lucky?"
Kb |
