Friday, August 28, 2009
The "Sugar High" versus "Grief"
All I know is that the pundits have better come up with a better word than sugar high! Wait--Now I get it. It's just the bears terminology to replace "green shoots!"
They scorned the green shoots when they were budding, so now they use "sugar high" as the next reason, when the market is living off of meat and potatoes, making the stock market still sleepy!
Wait until desert!
So let's look at the five stages of grief that the bears are going through, since they lost their bear market.
Denial! Oh my. This can't be happening to me. And then they get Angry. Remember Roubini lashing out at Cramer? Calling him a buffon? The tired outburts by the bears on CNBC? Then Bargaining. That was Meredith Whitney. She wanted to be relevant, so she made the deal with the devil, and decided to be bullish. It worked for her! The rest of the bears are still vacillating between anger and depression ala Charlie Gasbags on CNBC yesterday schooling viewers on the market.
And unlike real life grief, this can be changed easily. It's not the grief of the passing of a loved one, but for these folks it almost is. Because they love their pride. They love their smarts. They love their gravitas. They love their soapbox. And they love being bearish!
But they'll eventually find out that love wears thin, when you cost people money. Even if your intentions are well meaning and good, which is a debatable concecpt on Wall Street. After all, aren't these folks book sales and franchises built on doom?
And unfortunately, that acceptance comes too late.
Because stock market grief is good!
It makes you change!
And the change is real dollars, not just a sugar high!
Posted by Palmoni at 7:06 AM