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Wednesday, May 19, 2010

Man, I *love* being wrong

I was saying that I thought the move yesterday was most likely a B wave. I was skeptical of a set of 1-2's based on the lack of dynamics (and I thought OPEX manipulators would give us a huge run up today). Market instead decided to start shitting a brick (question: if you have diarrhea and you are about to shit a brick, is it just clay?)

Just a question because the market is looking like a pile of loose stool.

.... Hey, I warned you *months* ago of my affinity for poop jokes. But you keep coming back for more!! MWAAAA HAA HAAAAAA!!!!

.... anywhoo .....

I am glad to be wrong in the count because this keeps getting more imminently bearish and my shorts are A-OK with that.

We are now back to where we were 1 week and a half ago, 1 trillion dollars poorer. No trader or fat-finger trade to blame the sell-off on.

This is not "evil short sellers manipulating the market down". This is the bulls getting a hangover from a year and a half of binge buying. This is not selling pressure as much as it is a lack of buying pressure. And when the dip buyers really give up ... watch out below.

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