The Bears Overstay Their Welcome…As Usual

Posted by Howard
on November 30th, 2007

The shorts are such amateurs. They are too smart for their own good. While they brag at ‘cocktail parties’, their profits disappear.

Sure – we throw them bones …GM, Dell, Ford, Homebuilders, semiconductors and even some big financials this year, but the rest still belongs to the bulls.

They bears focus too much on charts and price and levels…NOT TIME.

They don’t realize the amount of people focused on keeping the sytem moving forward and possibly even ‘rigged’ (I hope it’s rigged for all our sakes).

They don’t realize the power of the bullish system of America. They have their little toy of the ‘no uptick rule’ which definitely helps them during meltdowns, but creates this mess for them when sentiment turns for just a few days.

This has been one of my better trading weeks of the year again…thanks to the bears. I remember the pain of being early at $81 on VMWare just a few days ago, so I WILL SELL some more today at $94. I remember being scared of a crash while buying lot’s of SPYders at $142. I will book profits on a bunch today at $149 a few days later. Yes we could go higher, but this is indeed a meaty move in a short time and I have no opinion on the market itself.

Take a look at these spikes. If you are a shortseller remember them.

Disclosure – Long VMW, SPY and as you know alot more.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.