Barry Showed up and posted this:
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 respect Barry, and Openly post his response. Apparently, I'm misunderstanding his thesis. I'm still trying to understand, cause I guess I'm slow. I think he is saying the XLF has bounced off of 16, and is still going lower. Not to 10 (which is 75%), but lower than 16.
I think the world of him, I do, that is very honest.
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