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!