Screw This Market; Nasty Selloff After Such A Strong Day Is A Clear Topping Signal

November 7, 2007

I am losing my bullish bias. All my hard work yesterday was rewarded with this!!! Fuck this market. Sell all laggards, cut your losses in stocks not working, take in some profits, and raise cash. This market is in for some rough times. Even if it turns around I don’t care anymore. The easy money is being made on the short side now. It is time to get rid of the bullish bias. This is the most confusing market I have EVER seen. Since 1996 I have never seen a market so fucked. Get out of your new longs and take profits. It is time to start selling. If there is nothing wrong with your longs, keep holding.

What makes all of this worse is that today I just loaded up on FNDT in my IRA. This is now the third buy in a row I have made in my IRA that has been a loser (SNDA, BLL, and now FNDT). Right now, I fucking suck, so it is best to not follow my trades unless you really like them. The easy money off the August lows has come and gone. I don’t know what the market is going to do next and with all of this volatility I do not want to be a part of it.

I have never seen such a fucking crazy market. The 2000 top has NOTHING on this wild action. If we are not topping, then damn it I really have lost all ability to read the market. Right now, it is unreadable. Anyone bullish or bearish is just asking to get punched in the face. I will continue to take both longs and shorts and will keep everything 1% or smaller of my initial equity.

I am so upset words can not even express how upset I am. Fuck this market!!! Have a great evening. Aloha!

Posted by Joshua Hayes | Filed Under Market Commentary