Only Cash is Safe, Real
A ban on shorting won't make us buy.
Hello from the NASDAQ, where I'm fighting an encompassing shroud of phlegm and trying to discern reality from hallucination brought on by massive doses of DayQuil. Of course, this market is "confusing" even when the mind is at its clearest. If you want a real trip, try looking at it on antihistamines and espresso.
Here's what I'm wondering beyond "does everyone see rainbow-tracers on their fingers while they type?":
- Even if I didn't feel like the Boy in the Plastic Head-Cold Bubble today, I'd be doing less. Buy the dip on Goldman Sachs (GS)? Sure, just as soon as you tell me what the company does.
- Whether it's well-intentioned or just opportunistic posturing (you know my vote), Congress is now deciding it'll help with the bailout once "reasonable caps" for executive compensation are set - which more or less ensures nothing will happen soon.
- Emotionally, outlawing short-sales is akin to demanding someone to love you; the more you insist, the more repulsive you become. You can make it hard for me to short, but you can't make me buy. In terms of actionable ideas, I'd love to give you more, but I don't have any myself. I'm sitting in cash, thinking of hobo names and watching Congressmen grandstand while the debt bubble burns.
- The happiest thing I can say is that I'm pretty sure the cash I've got parked is both "safe" and "real."
What are the pro traders saying about your stocks?
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