Dey's of course da PPT, da PTB, da masta plannas and da boyz. Full Hubris '10, also known as Full Tout '10, the extension to Hope '09 and Full Suck-in '09 proceeds on in its robotic way. Market watchers who know what they are looking at shake their heads and think 'here we go again'.Last time we went this route it was 2002-2003 with '03 being the year I clearly remember thinking 'don't fight 'em, Gary... roll with it'. In the wake of that came a website called 'but it is what it is' (hey, it was not yet a cliche' back then) that resolved to keep firmly in place the reasons that people like Comptroller General David Walker were on high alert for systemic risk. But also, the name referred in part to my personal inclination not to blame nefarious forces for anything negative that befalls my investment stance.
It is what it is and these pigs are flying a poorly sponsored stock market higher, toward some targets that could prove terminal. But we are all getting a refresher course in just how long and dragged out this process can be. The economy has improved and the system is whirring along here in Full Assumption '10. This speaks to the idea that nothing was learned or incorporated from the crash. At least nothing in the way of remedying our misguided belief in a system that is unraveling slowly, over the course of years.
I used the 2003-2007 time period to make some good money, yeh. But more importantly, I used it as a time to remain conscious of the cracking foundation and to get my house in order. Rational people will use the current recovery, stitched together with sublime levels of new morally hazardous policy, to their advantage - for however long it lasts - not to make money and be a player, but to continue deleveraging and insulating themselves from what is coming... sooner or later.
Oh, this started as a post about the financials etf, XLF. Well, there's the trend line, there's the 38% fib retrace and if the pig climbs yet higher there goes my short on the financials. So be it... is what it is. I am still making money and will continue to do so if the construct floats higher, because I know where the real gains will be made going forward. Just like in 2002 - 2007.
