So, I browsed a bullish and bearish blog today...
I have to do this when I think we are at a critical turning point, because I want to remember these sentiments when we are at a top in the market..
These comments were posted all before 7am PST this morning...when the market was down 20pts on the S&P...
Check this out...it's amazing...
From the slopeOfhope (bearish blog),
"It dawned on me this morning that now I know what it feels like to be a bull.
And, no, I don't mean unattractive, simple-minded, and clueless. I mean I know what it feels like to be in control of a market.
When I was "fighting the bull" (market, that is), it was incredibly frustrating. I felt my analysis was sound, my trading was prudent - - and yet I kept getting smacked. I felt a lot of anger and resentment. I hated the market.
That must be what the bulls feel like now. Because now I'm totally at peace with the markets. (bold for emphasis) And I am not feeling the "flip side" of the ugly feelings above (that is, boastful, vengeful, etc.........not even vindicated!) So now I know what it feels like to really be on top of a market and feel confident about what it's going to do next."
...and from Beanieville's blog (bullish blog),
"ok, it is very important you protect yourself in some form (hedging with puts if you have long positions, or just sell your positions). This is not good.
We are gonna CRASH, is startin to look like a real possibility....
I'm not gonna warn ya again to get out of margin. At least be 50 cash is my recommendation.
WE COULD C-R-A-S-H!"
No disrespect to the bloggers, but, this morning, when Timmy was at peace with the market, and was prepared for the next move, he had the rug pulled from under him in the last hour today... And when Beanie had enough of the long side, he convinced himself that we were about to crash, and was prepared for it... I mean, wow! The Bear was relaxed, ready for more coin, and the bull was running for cover, and then WHAM....
Enjoy the next move higher...
tb
