Wow, it is just crazy to see the amount of worry warts, practitioners of doom and end of the world theorists out there tonight…it is simply amazing. They are worried about things that will “doom” the country…national debt, bad banks, china putting its wallet back in the pocket, the consumer on life support and a housing crisis that will drive the american populous to tent cities.

I am not writing this article with rose colored glasses, but really people…when was the last time you heard “good” news on TV. The media loves sensationalism and the market going up every day is not sexy…they love a crash. Funny thing is, every rally from Dow 6500 has been fake and frothy and now the first real selloff we have had in a while spells the end of the world. I do expect further slippage, but c’mon…if you listen to all these fund managers that have underperformed the indexes spew venom, you will buy gold bars, build a bunker and buy munition. Wow….Grrrrrrrrrrrrrrr time!

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Well the ever negative media and all the fund managers who got left behind are finally getting what they dreamed about…a very nasty down day. The true test will be how severe this will get….I just say they are shaking the tree and the weak fruit will fall first…btw, is Wells Fargo in trouble? Give me a break!

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The journalistas have got it all wrong. Why do we “have” to correct? I mean who made the rules? better question is who follows them? I am not being a perma bull, but I just cannot understand the daily calls of the media for the market to implode….”oh my, too far too fast“…”double dip recession is around the curve“…”all the buyers are in“….oh and the best one…”the volume is light, just wait till everyone gets back from vacation after labor day“. Are they nuts to imply that only the “bears” are on vacation at Jellystone park with Yogi and Boo Boo? and why the hell would they be on vacation in the first place with the market up 3000 points from the March lows. I don’t know about about this chatter, but I would not be on any type of vacation after getting ripped by an almost 50% up in the market.

The second question is…”is the 1999-2000 dot com bubble all over” — ABSOLUTELY NOT…I lived it…on a good day the average stock moves 2-3 points at BEST. Back then you had stock’s swing 20 plus points a day. I just say as the market goes up scale out and scale in as opportunities arise….but if you are waiting for the big collapse….that’s not a strategy, its trading on hope

I think tech is shaping up to rip into the holidays…get your tickets early, ladies and gentleman! ….do you own DD and have a wonderful weekend.

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Busy researching the next move! Energy sector looks attractive…

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Bank of America (BAC) is on a stealth run…the train looks like it is leaving the station.

Disclaimer: I am LONG Bank of America (BAC) stock as of the posting date of this article. This post is merely to present an idea and not to try to persuade you to buy/sell any security within. Please do your own Due Diligence BEFORE making any trades.

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