Palpable Fear

... it was thick and heavy, permeating, and deep... omnipresent... like the unrelenting discomfort that fills the air on a humid New York summer's night.

This was not the selling of weak company stocks and the buying of good company stocks like we saw the last few months... this was indiscriminate selling... reminiscent of the fear among hedge funds and big boys that I have only seen a few times prior this bear market...

This is what I was looking for. We are not there yet but this is the kind of action it will take in my opinion. When it looks like October all over again, when it looks like the stock market will never go up again... that's when the smart money that runs the market shall swoop down on their prey like lions tearing into the flesh of the weakest prey on the plains of the Serengeti. That's when we go up again... that's when the next pyramid scheme on the long side shall rise up... until it too washes into the sea...

We did not push back up to over 800... though it is always important to be prepared for the lower probability unexpected events and have a plan in place. We moved the way we 'should' have and if this path continues the flushing of the last optimists could be steep and fast...

"The Yellow Rose Street Beat" is for informational purposes only. It does not give investment advice.