Market at fresh 2 year highs...still no mea culpas from bears

Here's something I wrote back in April 2009

"A comment on analysts Whiteny and Roubini who have recently achieved super star status: From my experience anytime an analyst or strategist or whoever become market sages they inevidabely will fall from grace usually shortly after the point when everyone worships their every word (we could be at that point already with these 2). These 2 will WITHOUT A DOUBT one day become goats. Mark my words."


The goat horns are sprouting with these 2 along with other offenders such as Hussman, Mauldin, Schiff, Prechter and a boat load more who gained noteriety as bears during the crash but have been dead wrong about the bull market. It's comical how they have been digging in their heels week after week, month after month refusing to admit defeat. The market has now rallied 85% for almost two years and they have been fighting it pretty much every step of the way. Do these jokers realize how ridiculous they look? I mean, what the fuck will it take before they say "hey you know what? I was wrong....big time wrong". But you won't hear that. These guys have too big of an ego. I find most bears to be so full of themselves and their self righteousness to ever do that.


Look, I don't care if the market peaked on Friday and starts a new bear market on Monday which would then result in a "see I told you so" reply from these permabears. To be so inflexible as to miss out, or even worse, bet against a near 2 year, 85% bull market is INEXCUSABLE in my book. Not only were outsized long opportunities missed, but if a new bear market were to start on Monday, their followers wouldn't have much money to capitalize on it after getting reamed for so long. And their followers probably didn't fully capitalize on the crash in 2008 either because they covered shorts too soon....I saw it first hand. Most bears became neutral and some even ST bullish when the SPX hit 1000 in the fall of 2008 and with few shorts to support the market, it probably exacerbated the crash.


Now having said all this, I still respect some of the information/insights I get from some of these guys like Hussman, because I learn more about the markets and it gives me a balanced perspective. It also challenges my own bullish beliefs and if after reading what these guys have to say, if can still honestly be bullish it makes me all that more confident.


check out this message board post I just read

Bulls will hang themselves again 11-Dec-10 04:56 am

They are playing in a bears cave. The market has gone nowhere for 9 years and theres decades to go. They play off bear market lows and call it a bull market but those lows keep getting hit over and over again and it will happen again. It was all end badly again. Personally I think none of the profits reported are real nor are the government numbers. I think things are much worse but the government is in cahoots with businesses to cook the books in order to have gains in the stock market for more tax revenues to pay for the bailout. Still the economy is dead. This rally is all a big lie. Stuff like this from the shmucks keeps me LT bullish. I'm getting over my blunder with psv.to If you want to see how I reacted see 3:25-3:35 of the video below. ok....it was slightly less violent than that.