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It's simply getting tiring, some nicely dressed fellow is interviewed by CNBC - whose reporters are busy stumbling over the "6.4 Billion Dollar Question" ... "Bob, Is it time? Are we at the Bottom yet, izzit a Bottom, It's a BOTTOM, right?"
The Suit knows what's expected, it's like shaking your leg free of some amorous canine, " ...we see a bottom in the 3rd quarter - maybe sooner... " Whatever else he would have said is lost, the microphone wrested from his grasp as some well fed, perfectly coifed, cheerleader crows in delight...
I'm an "Old Guy" and I've seen this too many times before. The scenario is painfully simple, which is why its so hideously effective.
BAD THING HAPPENS: Something upsets the Market and everyone flees in terror. Money managers and brokers gash themselves - tossing and turning fitfully, unable to sleep - knowing all that money is languishing in checking accounts and they can't churn the hapless investor like butter.
COMMENTATORS BEMOAN HOW THE "Little Guy" WAS HURT: This is their way of making you feel they're your friend and have empathy for you, your college age children, your unreasonable mortgage, and the high cost of everything.
CHEERLEADER'S EMERGE: It's Over ... Woot, now we can all make limitless profits. "We think it's a Bottom ... no, a lot of us suspect it's a bottom ... rather, most of Wall Street predicts it's a bottom, therefore IT IS a bottom. We want to welcome the trodden upon "little guys" back - so we can make enormous profits (because we already bought all the good stuff) together - because we like you .
THE BIG GET BIGGER: Temporarily the "little guys" pour over the cliff; the greedy and foolish are first, then the smarter and wiser start to pause - but they're pushed over by the press of bodies behind them. Pretty soon even the onlooker - disinterested types figure something "cool" is happening and they get too close enough and swept in with the crowd.
The canny investment types start pulling their profits (because they learned how to do that) leaving the rest of us hoping we're not the last guy on the pile.
BAD THING HAPPENS: We flee in terror trying not to be the last guy in the market.
Rinse and repeat, ad nauseum, ad infinitum.
I guess this is merely a long way of saying, "I don't think we've bottomed yet."
KB
http://singlebarbed.com
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Comments (3)
If you predict a bottom (or top) every day, you're sure to nail it. Next will be the ads, 'our analyst called the exact bottom of the 2008 bear market.'
I got cynical before I got old :)
Posted by Russell Krull | May 15, 2008 10:44 PM
"Rod" Whipper-[ Red ?]-Snapper
What you have witnessed is the process by which money finds it's way back to it's RIGHTful owners.
Wear 'em out & Scare 'em out.
Suck 'em in then pluck 'em to the skin.
Wild Bill Hickock said it best :
You can slaughter a LAMB only once but you can shear a SHEEP many times.
The Talking Heads are ofthe same species as the Lemming the L'il Guy - only they are RATS !!!
So what's NEW ???
Don L. Ferk ( fka VikingWarrior )
" Then they kill them with self-confidence after poisoning them with words " - Bob Dylan
Desolation Row
" Now the Bricks all lay on Wall Street
Where the NEON MadMen climb
They all fall there so perfectly
It all seems so well Timed
And here I sit so patiently
Waiting to find out the Price
You have to PAY
To get out of going through these things Twice " - Bob Dylan - Desolation Row
The Masters make the rules for the Wise Men AND the Fools - Bob Dylan
PS : I'm a ODB ( Old Dirty BusTurd ) but I'm not Cynical - I'm a REAList.
Song O'da Day
Desolation Row - Bob Dylan
http://youtube.com/watch?v=kc2Ga8oNDnM
&
http://youtube.com/watch?v=PMMZvbvUcAk
QUESTion O'da Day :
Who is WORSE - the deceiver or the deceived ?
Posted by don ferk | May 16, 2008 5:22 PM
Super 'Fly' Guy,
Oooops !!!!!
I must have lost my head - thinking about the Existential Pain of DuffBeer being SLO-2's #1.
I was quaffing Mass Quantitis of Sam Adams Summer Ale ( aka SWELL SWILL ).
I forgot that DR is a very Long Song.
So without so much as a by-your-leave or an adieu to my FLAVORiteE brew-thru, here's Part ( SLOw - ) 2 of Dylan's Desolation Row :
Highway 61 Revisited Album Cover version ( Part 2 )
http://youtube.com/watch?v=Oz3Hfw01xU4&feature=related
There is no last 1 & 1/2 minute Part 2 version of the SlideShow version
As 'THE' SLO REAL PBT ( Professional Beer Taster ) there is a technique for Rapidly Easing the Pain of DufBeer at Numero Uno -
it's called Instant Gratification, Like most other things concerning Beer & the Marquette aux StoQUES, the Duffer is totally and blissfully unaware of the practice.
http://www.youtube.com/watch?v=QsSPjv0wvG0&NR=1
I hope this helps .....
Don Ferk ( aka VikingWarrior )
PS : OK - DuffBeer is the SLO-2 "SurReal" ASS
( Amateur Swill Sampler )
I have SPOKEN. The Gauntlet has been thrown-down !!!!
Posted by don ferk | May 16, 2008 8:03 PM