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Ron Insana gets it. Doug Kass gets it. Bert Dohmen gets it. Dan Fitzpatrick gets it. I am talking about the notion of having to (forgive me), "ah-ah-ah-ah, stay alive" in this market, meaning you have to be nimble, leave room and accept its pull. Acknowledge the liquidity.
Last night I went off the charts with Bert Dohmen, who wrote an extremely bearish piece last week for the site, all the while acknowledging that the market's not done going up. These are amazing calls because what they show is the desire to make money when it can and has to be made, even as we all acknowledge that it is something phony: liquidity, short squeezes, the notion of underperforming the averages with 58 days left. All of the things but the fundamentals, unless you are talking an Apple (AAPL - commentary - Trade Now) or a Google (GOOG - commentary - Trade Now), although I am sure there are those among you who think those are only short squeezes, too -- even as Google trades, as I have said here, at less than 1 time its growth rate and is a terrific buy knowing ad sales are coming back. You have to understand that none of these gentlemen is being intellectually honest; they are simply acknowledging the divergence between what should happen and what has to happen and how to profit from it. When we started TheStreet.com, it was predicated on the notion that stocks diverge all of the time and many things other than the fundamentals come into play. Nice to see that, 12 years later, the tradition continues with a whole new set of faces and brains that know far more than the, well (forgive me, again), average bear!
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