You read four good bearish views in a row and you just want to pack the family in a van and move to Northern Alberta. Thats CANADA people.
My problem with the Alberta move is that there are no good jobs for a jew in the Tar Sand business :) .
I don’t think it pays to be a bear. I think it pays to flow between cautiously Optimistic and Giddy. Always be cautiously optimistic or MOVE TO RUSSIA and when you are giddy – don’t be an ass and SELL something.
That all said, here are four things to cuddle up to tonight with your teddy BEAR:
1. The “Don” of Cautiousness – Jeff Matthews. I love his stuff and this one rings true to me.
2. Trader Tim’s blog. Al Gore should have bottled this blog about 6 months ago. He is so cold that he could stop GLOBAL WARMING.
All joking aside though – he is smart and even a broken clock is right twice a day. He will be right again. Maybe ? :) .
3. Kevin’s Market Blog is good. He has a good piece on Nasdaq Market Sentiment. Hat Tip to Time To Trade for the linkage.
4. This charmer of a dude. Talk about a party pooper. Bear tip to Trader Mike .
OK – back to being giddy.
Yeah, the general consensus seems to be bearish. Considering that the natural flow of the markets is UP, it only pays to be a bear on rare occasions. You gotta pick your spots.
Of course, for some folks, that spot is EVERY DAY.
At least the “charmer” put a deadline on his “end of the world.” Better than just saying it was “nigh.”
Right back at you Howard; thanks for the mention.
On this whole bear / bull debate, since the DOW broke out and started forming new highs, the bears have started to emerge from the woods. Their fears could be well founded, however if a market that you are trading is setting higher highs, then why not stay with it and enjoy the ride.
Secondly when there is a bull market correction, you tend to get a rounded top and a lot more notice when compared to a bear market correction. Denis Gartman sums it up nicely in this year’s thanks giving letter:
“12. Bear Market Corrections Are More Violent and Far Swifter Than Bull Market Corrections: Why they are is still a mystery to us, but they are; we accept it as fact and move on.”
Dennis Gartman’s Not-So-Simple (but materially fewer) Rules of Trading:
http://timetotrade.eu/blog/2006/11/27/dennis-gartmans-not-so-simple-but-materially-fewer-rules-of-trading/
Happy New Year Howard and to all that read this.