Wednesday, May 16, 2007

It's different this time...

I came home today and flipped on the TV just in time to see a very strange discussion about where the market is headed. I won't go into too much detail, but some guy on CNBC said that we don't have to worry about large market corrections because, wait for it..., it's different this time. He then went on to say that the investing public is just now putting money to work because of the "record high" headlines and claimed that this was bullish. Now I know that I haven't been in the market for a long time, but I've read enough to know that the public ALWAYS gets in at the top.

At least Michael Farr was on to counter this moron's view. You can watch it here.

I'm building a serious short list. I'm also looking to buy some puts on the Russell 2000 ETF (IWM). The small caps are extremely weak!

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