One toke over the line, sweet Jesus…
That’s all we need to firm up this bottom, a little action that stays over that 1,284 mark on the S&P. As noted by Dave Fry, we had enthusiastic selling and lackadaisical buying yesterday – not a healthy combination BUT – it sure beats dropping another 2.5% in a day, doesn’t it?
As I said yesterday, we don’t have much financial skin in market direction at the moment as we’re still very Cashy and Cautious but we don’t want the markets to crash as that would be no fun with 30% unemployment and 66% youth unemployment and riots and looting and starvation and disease, etc – but you bears can root for whatever side you want, I guess.
It’s like Donald Trump said on CNBC this morning regarding Obama’s citizenship (yep,. still on that). He actually said: “A lot of people disagree with the facts and that’s what America is all about.” That’s right Donald, America is all about your God-given right to have an opinion, no matter how asinine, wrong-headed, contrary to all facts and logic or even just plain harmful to others it is.
America is a country full of people who are very proud to be unread (to use a kind phrase) and who “go with their gut” when looking at facts because they often don’t possess the cognitive reasoning ability to process the actual information that is presented to them.
Amazingly, rather than giving us a new age of enlightenment, where information efficiently flows to the masses and an informed consensus can be achieved – Google has actually polarized our Nation because – no matter how asinine your opinion/interpretation of the facts may be – you can use Google to help you find thousands of other lunatics who agree with you and reinforce your wrong-headed beliefs.
One habit I try to get our Members into is to go out of our way to read articles that DISAGREE with our opinions. I like to spend 25% of my time reading people who have the opposite opinion to mine on various subjects so that I can make better-informed decisions as well. People often ask me why our “Phil’s Favorites” section carries articles that say the exact opposite of what I’m saying and my answer is – these are other writers who we…
