Thursday, April 9, 2009

Bob Marcin capitulates

Remember his sarcasm last week?

Here was his April Fool's proclamation the day after April Fool's, which I appropriately dubbed, "All the bear's whining won't help them one bit."

Today he capitulated short term, though he remains bearish long term. That just means you're wrong, but you want to pretend your thesis was right! Blame it on momentum! Funny, no one was blaming the bears for the downside momentum, but now that the bulls have some, it is disparaged! Here's his latest:

Covered good chunk of copper related short with break above $2. As I wrote, mo-mos in control here and didn't want to fight that. Stop losses came in handy.

Dougie (Doug Kass) seems to have this figured out with his buy-the-dips program. It feels as if we might work higher over time to get a real bear market rally. We are not out of the woods, and I expect another test of the lows later this year or next. But there is no reason stocks can't rally back up to 900-1000 over a few months if investors want to chase the "less bad" trade.

As advertised!!!

The whining didn't do him one bit of good!

Another facial dished out by the market!

And I'm advertising a lot of Wall Streeter's who have completely missed this turn. Rosenberg of Merrill was very accurate the whole way down, but he missed this turn. So was Marcin. So was Roubini. So was Whitney. So was Goldman Sachs.

They just couldn't get their hands around 666.

That why it's the market of the beast.

And this beast, can't be tamed!

No comments: