Gloomy old 'd Boy' Rick Ackerman is one of the people I pay attention to. His experience and his sense of balance are impressive. Here are some of Rick's [see edit below] words from this morning's article Few May Imagine What is Coming:
"I think Mr. Market is going to suck the blood out of nearly everyone — but especially from Bears who think Mr. Market is their friend in crushing the Bulls. Imagine “Value” and imagine what value really is in its most basic sense. I’d tell you what value is, but you either know, or will not listen to this ol’ radical gloom-and-doomer."
[Most] Deflationist bears generally have no concept of value in my opinion. Hell, fire and brimstone... and not a clue.
Back down memory lane, here is what this doomy blogger thought about value back in '07: A Value Proposition
Edit (2:50) I just realized the quote and the article are from a forum contributor named Steven George Fair. I should really slow down just a bit... anyway, the message remains every bit as valid.
I should also note that I dumped my final bear position today (and yes, ZSL was indeed terminated for a quick loss), releasing S&P ultra-short SDS for a nice profit. Let's see what, if anything the counter-trend can do here for a bit.
