The Media Discovers Margin Selling
Oh great, suddenly everybody is talking about margin clerks. Suddenly all of the talking heads are focused on the issue! Gheeezzhh? Where have you guys been?
Now that my little margin clerk secret is well-known I suspect it is late in this margin game. Here is why: If everybody knows that the margin clerks are going to wield their axs, the "smart money" will be in there shorting stocks on every lift, betting that people will be sold out.
That will create the short base we need to put in a real bottom. You can't worry about a worry that everybody is worried about. That's like Asia in 1997 or Long Term Capital in 1998. Once everybody knows about something that seems troubling, it is overly discounted.I like that.
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