When the market started falling, I was tormented by the prospect that it was just another January 29-February 9 blip. That is, a tease for the bears which would simply result in bitter disappointment. Almost the entire world felt this way, and with good reason: the bears have been cheated for nine solid years, and the BTFD crowd has been winning, so why should it be any different this time? Why not sustain such a thing until, oh, the year 2397?
Even now, though, I can see that the late January/early February selloff was nothing……..NOTHING!….. compared to what has happened over the past month. The kind of damage that October caused was absolutely core to my stratagem. What happened early this year was exciting, yes, but truly was nothing more than a cruel tease.