So I go take a nap and wake up to see the DOW another 80 points lower. That's some bullshit. On the day we traded down 1.5% and I was up 1.5%. OK I guess but somewhat disappointing. I feel like I missed some opportunities today.
Tomorrow is a shortened session which is likely to be quite interesting. Employment report and the ECB announcement on the docket before a long holiday weekend.
The lows on the S&P were penetrated today. A whole bunch of momentum stocks were shellacked including, but not limited to, coal, steel, ag and oil. Allow me to reiterate that we are completely fucked. Period. Don't try to sell me some bullshit about a second half recovery or the Fed is gonna save us. Ain't gonna happen.
It is not too late to sell. If you've been in denial this whole time you better start to take action ASAP. Raise cash, get out of debt and start living within your means. What happens if you get fired from your job? Are you prepared, just in case?
The time will come where there will be nowhere to hide. The pain is not even close to being done and I'd argue it's just getting started. This entire country is in for one big wake up call. Or should I say margin call?
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