NEW YORK (Real Money) -- To me the bear case is as easy as pie.
Let's dispense with all form. Here it is.
- Something is very wrong with the market when we get strong news out of the economy and interest rates plummet. That's a fear of an unknown unknown. What's the point of buying when there is something lurking?
- When interest rates plummet, the banks plummet, particularly now that the short rates aren't going higher. Banks are the linchpin of all big rallies, and we have lost them.
- There is no price where the insiders won't sell these extended techs with no dividends or earnings.
- We have had a big run from the bottom, almost a triple, so it has to be out of gas and extended. It was just high-multiple stocks. Now it is every stock.
- We've seen this movie before in 2000. In fact, it was this week to the week that we were really beginning to thrash with the really awful dot-coms -- the equivalent to what has come public like FireEye (FEYE) and Splunk (SPLK) -- crashing daily and the insiders still selling no matter what the case.
- Japan's a disaster.
- China's a disaster.
- The world's being kept afloat by central bank fiddling.
- The initial public offering flow doesn't stop.
- Earnings will be terrible.
There, I made it. It's very easy to stand by. In fact, it's so easy that, perhaps, it's too easy, too obvious.
But for the moment I am just going to put it out there so I can say "don't I know it," and "I see how we can get hammered."