That the bears are too bearish on the downside, and bulls too bullish on the upside.
The XLF is down over 50%. But apparently The Big Picture, thinks it should go to 75%. Oh, what it would be like to , be part of the Dow 6K Crowd... only I would suspect... they would still be shooting for 3k.
I think Barry is a great guy.... but we all eat our own soap, every once in a while.
I'm in love with that saying. "Don't eat the soap, bubble man"
Caution is certainly noted. But that chart is building a 20 base. I could have Sworn when I took the oath at "bear School" that we were supposed to be "Value investors".
Sometimes, dow 6k is a Religion..... don't they realize we have inflation?
Here I sit, happy as a pig in shit(I don't know what that means), Nervous nervous nervous. But seriously. There is so much disbelief....
Saturday, July 19, 2008
Isn't there a saying
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2 comments:
Down 75%?
That's not at all what I wrote -- I said (before the rally) we covered our shorts and are playing this for a bounce.
You can choose to ignore fundamental problems in the sector and permanent damage to the prior business model. Me? I rather make money . . .
I understand, I have the utmost respect for you.
And 75% is obviously hyperbole.
The XLF hit 16.... that is 50+%..... My sarcastic point is Where is enough? since you say "bounce".... 10? 5?
Maybe I'm misunderstanding, and you think the market is just bouncing?
and the old business model is broken, but it won't be the first time a sector had to rebuild it's model, especially the financial one.
And you couldn't give me WM, C, MS, wb.
But someone has to loan money, and that fundamental is in tact.
And, I'd probably still vote for you for Philosopher king.
Again, I'm a huge fan. And read every word.
Inter faeces et urinam nascimur
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