omandan,
As Prez Clinton (one of the great all time spinmeisters) said: It all depends on what you mean by the word "IS".
A crash is not a crash if you don't know what the word crash means. The Oct 2002 lows was the lows of the 2000 CRASH. He projects we will go below the 2002 low but we are not going to crash. He did use the word CRASH in some earlier posts but changed it to Major Bear Mode just to be more politically correct.
Per the permabear mindset, this is not a rally since we are suppose to be in a downtrend. All this upaction is just part of the setup for the big crash. Yea, we know. Those grapes would have been sour anyways.
I'm not that sophisticated. All I know is if I play the long side and I make money, it means market is going up. I can't reconcile losing money for the sake of maintaining the facade that we are really going down.
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