Friday, July 24, 2009

Bears will soon be seen jumping in Hell's gate

Instead of guarding the entrance!

Let's look at the dialogue we've heard just the last few days.

That the market "melt-up" is a black swan event.

Was sub-prime black swan? Was that contained? Didn't it hit Alt-A, Prime and then Commercial real estate?

How about the market crash that we just went through? Or the collapse of the financial institutions? Didn't the black swan get them also?

So now we are just going to dilly dally around here?

Who is smoking what?

We are going to rip the hearts out of the shorts. This market will make the doomsdayers irrelevant. And it will make the person, with the most outlandish, and reckless opinion, the one that wins.

Because when Armageddon happens, no one will be prepared. And to make all these Armageddon callers look completely foolish, no one will remember this crash. They will only remember the opportunity it gave, and the fortunes that were created, by those who were "brave" enough to buy. And that bravery is of the Wall Street type. Because it doesn't take courage, and it doesn't take bravery, and it doesn't take intestinal fortitude to buy here, but Wall Street needs to pretend it does, because most of the people are just overpaid scared sheep, that have figured out a way to misprice merchandise on an unfostering gullible public while they accumulate it--a principle Goldman Sachs completely understands. So they need to pretend that it took balls of steel to buy, so they can steal the money back that they already stole from the public!

So when you here that this rally was a black swan event, pay it no heed.

The pain hasn't even started for those short, and for those that are underinvested.

Because after all, isn't the pain, so far, just contained?

And the only way to blow the lid off is with higher prices.

And they will be much higher!


Anonymous said...

wow you really think this thing is going to blow higher huh?

so you think etfs like FAZ and SRS will continue to make new lows?

Palmoni said...

I hate the FAZ!

Anonymous said...

mee too lost my forture on it

X said...

Q3/Q4 GDP will be +ive. Guess what that does to topline of companies. We know the operating leverage they have. So earnings explode. So they hire. So job data improves. So mkts head up. Consumer sentiment improves. Spending improves. Housing improves ... Bravo Timmy and Ben ... you have engineered the escape of the century === and as the wise Palmoni says "made a black swan of the bears"

Palmoni said...


I might have to make your comment a post!!


X said...

And if you do use a picture of my man Steve McQueen and the Great Escape. That will certainly annoy Romeo.

Palmoni said...

X: That was a great movie! I've been waiting to do a spot with McQueen!

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