Wrong again, Luc.... <<today could be the ugly step child of Fri 2 weeks ago. Gold back up comfortably above $300 and the bond is down, moving ever closer to 6%".
Truth is... eventually you will be right. But you might as well change your name to Bill Fleckenstein. You may be touting the decline for some time, but in doing so you've missed out on some big gains in the past few weeks.
I guess that's the argument between LT investing and timing. AFter all, that's really what you've done here - attempted to time to the market.
I'll admit I could shortly be eating my words, however.
Check out Dell, that stock you love to hate. A few weeks ago you were talking 40s when the stock was 61. 30 points and 50% later, have you been adding to your short position?
You're right, many of these stocks go up "for no good reason". But the truth is, market psychology IS a reason. You can understand that Dell may be overvalued, but it's more important to understand that most investors either don't KNOW that, don't AGREE with that or don't CARE about that.
All I'm saying is what I've said before - even if DELL or any other stocks which are surging in these weeks falls, do you think they will fall well below where they were when you withdrew?
Regards,
Baz
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