Who could have ever seen this coming (other than us, of course)? The markets have given up, in a single week, all that they've gained since Thanksgiving, when I said (on 11/21): "Stop the Rally, We Want to Get Off!"
If you want a good insight into what I was thinking at the time, you can re-visit that Wednesday's Webcast, which was my first one with the Darwin Investing Network where we decied to initiate a "Cashy and Cautious" position in our newly formed long and short-term portfolios (see this Thursday's Virtual Portfolio Review for updates). In the post I summed up my position by saying:
Enough already!
Look at this chart – there's only 15% of us (bears) left yet still the MSM attacks us – why??? Why indeed? What are they afraid of? Why do Central Banksters Bernanke, Draghi and Kuroda all feel the need to say "What bubble?" in the same week? As a parent, I know when my kids deny something too much – it's a lot more likely that they KNOW they did a bad, bad thing…
Anyway, I am not a bear, I am just a Fundamental Investor who doesn't see anything worth buying BECAUSE IT'S TOO FRIGGIN' EXPENSIVE! Is that bearish? Once upon a time it used to be called rational. And it's not like there's NOTHING to buy, just yesterday, in our fabulous Webinar, we found bullish plays we liked for ABX, FTR and DBA. So, gold, communications and food, interestingly
…
You must login to see all of Phil's posts. To read the rest of this article now, along with Phil's live intra-day comments, live trading ideas, Phil's market calls, additional member comments, and other members-only features - Subscribe to Phil's Stock World by clicking here.
To signup for a free trial membership, click here.
