Why Bother?
Phantasmix November 19th, 2008
I’m going to sell all my longs tomorrow.
Year-to-date index losses are over 50%. This is a slow-motion crash. It doesn’t happen without a guiding hand. All the while we’re sucked into buying for the “bear market rally”, the rebound that never comes.
I’m done with longs. I tried, i really did. Every week, I’d go long 3-5 stocks. Thankfully I cut those losses quickly enough.
Are you going to say “that’s a sure sign we’ve hit the bottom”? Go ahead and use me as a contrarian indicator.
Market losses look deliberate to me (though I’m pretty paranoid these days).
And if they are not deliberate, just happened because of all the paper out there - well, that’s even worse. How can anyone trust anything in the market ever again when nobody truly knows what the real stock values are anymore?
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