From time to time, I have to post this video, because it so eloquently (and yes somewhat graphically) captures what all of us bears must do on days where the market runs totally hog-wild, as it did today. If you are a regular, then you know that I am actively hedging my portfolio against this run up, and despite being neutral in my portfolio, I was actually up about .4% on the day – I can’t complain that’s for sure. I will continue to hedge my portfolio with a large position in the Nasdaq QQQQ as I’ve held it once again over night just as I have done since last Friday. I have no idea how high or how long this rally will go for, but for now I will patiently wait on the sidelines until the conditions are right again for shorting.
Now back to the video…the bulls can be adequately described as those fighting on behalf of Longshanks and even engaging in prima nocta 
, and the bears are those in sackcloth led by the noble William Wallace. As the men ride the bulls recklessly and without regard, across the field (don’t email me to say that they are horses, because I know what I see – they are bulls!), the Scots (i.e. the bears) wait patiently for them to get in striking distance. Notice how the bears keep their composure to the tune of “HOLD…HOLD…HOLD…and when they are giving the green light, they lift up the long razor-sharp poles and gorge the bulls. Only then do they charge the field, when the advantage is clearly theirs and ultimately they march on to victory.
So don’t get overwhelmed and think that you have to take the battle to the bulls. Let them be the ones to charge across the field in all their glory and splendor, because, my friend, it will be short-lived. So stay patient, and be ready for when the time is right (ok, I’ll do a post on what I believe is the right time tomorrow).
