Comments on: THREE THINGS I THINK I THINK

By: MS

MS — Tue, 16 Mar 2010 06:58:14 +0000

TPC – Have you covered your short position yet?

By: MS

MS — Mon, 08 Mar 2010 22:10:12 +0000

Thanks!

By: TPC

TPC — Mon, 08 Mar 2010 19:12:16 +0000

Yes

By: MS

MS — Mon, 08 Mar 2010 19:08:31 +0000

TPC – Do you have a net short position?

By: Octopus

Octopus — Sat, 06 Mar 2010 09:09:09 +0000

With regard to my experience with shorting: when levels of euphoria and complacency are so high I try a short, and I prefer to average the entry point in more than one session, In this kind of set up rewards on the downside could be huge and quick…If I’m wrong I’ll have an additional average loss on my track record after a decent winning streak, i.e: I’m able to support losses (many tentacles).

By: Octopus

Octopus — Sat, 06 Mar 2010 07:27:13 +0000

I’m not doubling down, I just don’t build positions in one shot…and if it goes up I’ll buy it back..As you may know: losing some money is part of the game, the important thing is keeping losses small

By: James

James — Sat, 06 Mar 2010 05:23:17 +0000

I actually initiated a short position today. The Russell is way overbought. I am not calling for a crash though. I am hearing more and more people trying to convince others not to be SHORT. Which is what I like to hear when I am short.

By: billw

billw — Sat, 06 Mar 2010 04:01:14 +0000

Andrew,

You did not overstate anything. The only part of this economy that is surviving is the stock market, and it is a ponzi scheme run by the Fed with our taxes and printed money. And yes this ponzi scheme of a rally has lasted far longer than most people would have believed. That makes it a good opportunity for bankers and traders to get some of that government money before the ponzi scheme bursts. If you are a regular working person then you know that whatever company you are working for is making far less money than it was two years ago. Take a look at the number of houses that are empty per average block in almost any residential area, that again is a sure tell. Look at the final reported earnings for 2009, $56 which is pretty much what Rosenberg forecast early last year. We came no where near the original earnings forecasts and we won’t this year either. Heck, Mish, KD and ZH are not wrong; we are headed significantly lower. The stock market is like the band playing on thr Titanic as the ship went down.

By: Andrew

Andrew — Sat, 06 Mar 2010 02:08:57 +0000

Yes, I agree – and your articles on the whole are much to valuable to be discounted by this one blunder. Also, I am sorry if I seem like a draconian ass, but what startles me is just how difficult it has come to actually overstate the severity of America’s problems.

Make no mistake, the future is bleak.

By: TPC

TPC — Sat, 06 Mar 2010 02:00:37 +0000

Perhaps “rebound” should be in quotations because I am referring to the fact that the meager positives in this report are NOTHING compared to the big picture losses we have sustained and will not overcome for many many years….Sorry for the confusion.