We need people in commodities to not feel bullet proof or smug in their 'safe havens'...
We need 8-12% daily down drafts in oil stocks, coal stocks, natural gas, and fertilizers. (the "generals")
We need people to throw in the towel and not to feel like they are safe in any spot.
We need people chasing small cap oil stocks like Pyramid Oil (PDO) 120% up in 5 days (up nearly 1500% in 2 months), to run for the hills and not feel like this market is so easy.
That is the last stage I've been waiting for. When there is no place to hide. Every other stage has played out to perfection. We are now in the 2nd to last stage where people are hiding out in the last group standing (commodities) and they feel as if they are on top of the world as the rest of the market crumbles around them.
The last stage is when these hopes of that set of people are erased and they begin to experience similar pullbacks as everyone else has felt. As I wrote in this week's roundup - we could be coming to this time shortly. Let's see if we get some of those moves ...
I remain patient waiting for this moment. Then we can be confidant it's time to start layering in some purchases.
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows