The View From Here
After a red-eye flight, a huge tournament, and a plunging stock market, I also managed within the span of literally minutes a frenetic bidding process for a property (sight unseen!) in which we successfully won the bid. I’m delighted with the purchase.
I’m likewise delighted with the market. Thank God I was 100% in position already. Mercifully, on Thursday morning, I deployed my remaining 20% of cash into positions, and I even wired money in and added even more. So in short order I went from 20 bearish positions to 30, and I’ve got every one of them intact.
As I’m typing this, the market’s still got an hour left, but everything I see is fan-damn-tastic. ALL assets are in a free-fall, and free-fall is my favorite of the four seasons.
Homebuilders are getting all blown to hell………
XHB
The S&P 500 has its best back-to-back pair of down days in AGES………
SPY
Interest-sensitive instruments are cracking to new multi-year lows………
JNK
And, most exciting of all, the Russell is getting within spitting distance of a price failure that would make Jim Cramer’s stupid head explode all over the studio.
IWM
So, hey, Mr. Market, how about letting this price drop STICK, since I’m weary of making and losing the SAME blob of cash over and over and over again! M’kay? Thanks.
Cool lines.