Wednesday, December 28, 2011

who got a match?

Mr Market has been holding it for oh so long but looks just about ready to take a piss worthy of the history books. huge deterioration in breadth today, particularly considering the relatively mild percentage declines on the major indicies. one prerequisite I've had for a real bear market has always been a sustained underperformance of gold, and we've finally seen that. this isn't a call on gold, merely an observation. but an observation with great implication.

my bearishness grows for a whole host of reasons, which I may end up cataloging here, but aside from my puts on oil, I'm still on the sidelines. just listening to some good music for now.

no visible means of support and you have not seen nothin' yet
...everything's stuck together