Zeev's Turnips Patch-No Politics (ZEEV)

[alohamart]

This is the first time I can remember being more bullish than you, Zeev. One factor that makes me expect at least a short-term bounce is that Bob Brinker, who has a huge following, has alerted his readers to go 100% long, expecting a cyclical bull market. He has a lot of readers who moved to 65% cash in early 2000 who will be moving that cash to stock mutual funds based on this alert.

This Brinker follower factor, combined with the possibility of a max pain rally, war rally, OBL capture rally, bond possible double top rally, "VIX topping at 40 level" rally or "1260 area possibly holding on the close" rally all make me not want to be too short here for the short term. I've sold all my index puts and covered most of my market-related shorts and actually will be net long at the close with the sale of my double short funds. I'm not saying it's time to go very long, but the risk of at least a short-term rally is too high for me to stay very short. I'll actually probably still be less long than you, but thought you might want to hear the perspective of someone who's been extremely short recently...

Aloha