Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Monday, April 5, 2010

Hell with the charts

Doug Kass is still doing his thing. It did seem like he was a little over the bend.

Like I posted last week, he did a bad job of convincing people he was "bullish" no "Bearish"... Something.

His "Best short" IWM has blown up on him.

I also want to point out that the SRS which some stupid Knob took a huge bet on last week. It seems like they did a nice trade. But I've seen it before. The first thing Proshares does when a big bet is put down, is start working the Nav, and somehow you see a nice 2% bite taken out of it, Right after some "Big Investor" makes some Wild Lotto ticket bet. After that there is some bounce, all the other knobs see the trade, just like when old doug runs his mouth off about IWM, and they both run to a new high.

Same shit Different day.

Those are the dangerous things to short on downswings, the other stuff some of the stuff they are all giddy about, that stuff you may have a decent chance with. But when these guys start blowing their mouth off about them. Know it's "misery loves company" and they just want you to take it up the butt with them. Not that there isn't a chance maybe once the Down swing starts to get after them.

As always, know where your opportunities are and where they aren't.

I'll see where everyone is tonight.... but for the most part, everyone is quiet.

There is usually a down swing, through warning season(this week), then maybe a Pop toward the end of the week. If not, anticipation is very high for earnings...

I can't take the time to watch CNBC, so... whatever is going on, I can only catch sentiment through what I'm reading.....

And honestly, I'm not kidding, if there is a "Massive V" Recovery, my problem is the hundreds of thousands of dollars I'll lose sitting here, I'm happy to miss out on 10-20% returns, in the Jerk off of the market. So work is my big goal....

But if that work isn't out there.... I don't lose anything by looking for it, but if that recovery isn't there.... you have plenty to lose in the market.... Risk.... Reward...

Good luck Kids!

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