Angry bears reminds me of 2009

Here we are at SPX 3000....and the trading community is angry. The trading community it seems has been on the wrong side of the market for better part of 2 months. Whining and complaining that the market is not doing what it "should be" or that it's "rigged by the fed" is all I see. I got to tell you, this is not unlike what I was sensing in 2009 as the market began a new bull market at  a time when the economic data was still horrible.  If you're one of these whiners it's time to stop this destructive behavior. It's not going to get you anywhere. First of all, if you truly believe the market is "rigged" why the fuck are you shorting it?  Think about how fucking idiotic that is. That would be the same as finding out that a boxing match is going to be rigged but you bet on the guy who is going to lose because he "deserves to win"".  YOU PLAY TO MAKE MONEY. That is the bottom line. If you actually really believe the market is rigged to go up, then you should be thanking the Fed for making it so easy to make money! But the bearish trading community won't do it because they are either too stupid or too stubborn. They refuse to go long and when they do, they are weak and get stopped out on just minor weakness.

By the way, I don't believe in this fed rigging, I'm just saying that if you do, why the fuck would you ever go short or stay in cash? You should be going all in long and have an autographed picture of Jay Powell hanging in your office. It seems to me that once people get a taste of the bearish koolaid they get brainwashed and closed minded, unwilling or unable to explore any positive points of view. This happened to me in the crash of 2000. Luckily I was able to snap out of it in time. If you got burned by the market as a "bull" don't be bitter about it. Learn from it.

Back in 2009, the market had a strong recovery despite the economy and job market still being in the shitter. Ultimately, growth and jobs returned and so the market did in fact anticipate the recovery. So, did the bearish trading community admit defeat? Nope.The narrative changed from "it's just fed liquidity rally" to "there's another shoe to drop, we'll get a double dip recession". When that didn't happen it became "we're just kicking the can, this will all end badly" and then it eventually changed to "valuations are so high" which becomes the default bear narrative when the economy is going well and stock markets are making new all time highs.  A major concern out there is the "2nd wave" which is equivalent to the next show to drop narrative...this is where we are in the sentiment cycle.

In the short term, I'm not going to chase the market. It's simply too extended regardless if it's a bull market or bear market.  However, it's becoming clearer to me that this rally that began in March can still have legs because there's a bedrock of ingrained bearish sentiment that's not going to  lift easily. If you're waiting for more certainty, i.e. a cure, jobs to come back, ect. it's going to come at a cost i.e. much higher prices.

You would have to think that there's going to be at least one more "scare" in the market during the next few months. So long as the current bearish sentiment underpinning is still in place, that scare should not be a  devastating blow to the market (i.e. no retest of low)  and therefore such weakness could be bought....we'll see.