Bears Become Boiling Frogs
January 24th, 2007 by Buck Woodford
It doesn’t feel right — especially after bracing for a sizeable breakdown during the past few weeks.. but unless we tank in the last hour, I now believe this market has both the short sellers and under-invested logn players trapped in a state of paralysis known the “boiling frog” syndrome.
Teewinot could certainly handle several multiples of the client assets under management right now, but even then one of the beauties of running a relatively small amount of money is the ability to be nimble. We went from slightly net short yesterday to covering all shorts and now sitting 65% invested all to the long side.
Three indexes — Nasdaq, MidCap, & SmallCap — are +1% or more right now. If we close up here, the stampede is on.
While I like Chicago plus 7 points in the Super Bowl, in this stock market it’s lights out for da Bears.
This was a fantastically written post and the pics complement the tale wonderfully! I’ll send it to my friend.