WE'RE ALL GONNA DIE! IT'S THE END OF THE WORLD!
Hey! I'm BACK!
GEEEEEEEEEEEEEEEEZZZZZZZZZ!!!!!!!!!!!!! I go off on a snowboarding trip and the whole world goes to hell! You'd think the market's going to zero!
Why does it seem that everytime I go snowboarding the market tanks? I gotta stop going to the mountains. But on Monday, my wife is having twin girls. We have a C section scheduled for 3:30 PST so I'll not be around that much next week. But I had to get one last trip to Mammoth in. I wanted to use my condo up there one last time before I rent it out. I figure it will be at least 3 years before I go again. My two girls are going to be snowboarders, too. I saw about 5 little kids learning out there that couldn't have been more than 4 or 5, so I'm looking forward to that.
Okay, back to biz...
I have to get some stuff back together today, so I'll be around later and I will post a very long post describing exactly what is going on and I think it's very good. I know, I know. Always the optimist. But someone very astute a week ago posted a question to me that I didn't think of regarding what would happen to the market if everyone started selling energy stocks as they were rolling over those into the main market. Well, I think that's exactly what is happening and all you have to do is look at a chart of all energy Ishares and spiders and Oil and you can see for yourself there is a massive rotation out of them. Commodities are DEAD. And it's that money that is going to fuel this rally to come. We might have some more downside as we broke today the Feb low. But this is what bottoms are made of as all the oscillators and indicators are getting crushed.
I really thought this wasn't going to be happening, but because of the possibility, I focused on the June calls and not earlier expirations.
Again, I will post later a post with many charts showing what I think is going on and I think it's very clear and very obvious. So many people have been overweight oil and energy stocks, they are just getting destroyed. And that's what we needed.
So, for now I'll have to put my Beemer 750 on hold. But I think this drawdown is a gift and will be buying a lot of those June $40s and $43s today.
Talk later! I think the case I make is very interesting.....
