It’s really, really, REALLY easy to be a bear when the market is in a free-fall. Everyone loves you. You get bottles of booze in the mail. You get love letters. The whole schmear.
At times like this, the entire world hates you. (well, more specifically, me). I am, once again, the only equity bear walking the planet. Billionaire fund managers, pundits, analysts and everyday Joes are stock-crazy once more. Everything is going up. Trump and Powell will save us. China is our friend. And so on.
I’ll humbly offer you this long-term chart of the Russell 2000 with its Fibonacci retracements:
Looking more closely, you can see where we are at. So if you want to throw all your assets into stocks, absolutely, I won’t get in your way.
My examination continues irrespective of contrary opinions and canine interruptions. This is my mission.