OK OK, we have all the implications of the SUBPRIME TIME BOMB and ALL the trickle down potentials (Some laid out by normally sedate John Mauldin Mr Muddle Thru)
SO it is ultimate demise time right? time to get short right? End of bull right?
But we have the CONTRARIAN PUT/CALL RATIO at levels normally indicating some kind of bottom? some near historic readings of pessimism?
But let's say I live on an Island, with a VOLCANO named KRAKATOA....and I see it is spitting out plumes of fire and smoke and I FEEL the ground SHAKING.....is this a case I need to WAIT to see the MOLTEN LAVA FLOWING down its side, it's TOP blown off to run for cover?
It is a known fact once I see LAVA flowing it HAS ERUPTED......WHO WOULDN'T thnk so?
If I am ON TITANIC AFTER it hits the iceburg, what are my chances on BETTING (PUTS) the f'er will sink?
Has the market erupted? has it HIT the TITANIC...is it SO OBVIOUS that buying PUTS is the right thing to do? Given MANY other ways we can guage complacency (lemmings sitting tight)
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