It is not me, it is the market

I am receiving increasing number of emails threatening myself and my family just because I talk bearish about the intermediate and long term future of the market.

Despite S&P overshoot almost 20 points above my trading range on option expiration day, last Friday, I stand still with modified positions for the next intermediate term plunge to sub-600 and I will stay the course as long as my charts say so.

I am going to make a few things very clear at this point.

First of all, some pinhead rednecks need to understand the fact that I am not the one responsible for all this mess... If S&P500 dropped to 666 from 1576 in less than two years, it is the policies, system and macro-economics not a trader or a group of traders. I am a trader, there are 100s of other known people called it, traded it, made fortunes on it.

Secondly, it is not my responsibility to spoon-feed some daytraders constantly. Even the pay-sites that you pay tons of money to get daytrade signals do not take a slightest responsibility on any kind of losses.

This a social, financial blog to share ideas and information. While the situation is like that Sol and I have still been doing our best to share our view on short term situations frequently. Except two intermediate term trades that Sol didn't micromanaged at all (FAZ and NQ), this xPositions table clearly shows how we traded short term moves for the last year or so.

I am an intermediate term trader, those who followed me for years know the fact that I have been bearish since the day one of this top and I covered my long term shorts at 670 publicly real-time at the bottom on March 6, 2009 and consider and trade the current range as the next intermediate term top. I stand still with modified core positions, with average 865, I will keep pounding on the table that this bear will end only after we make new lows on all major indices.

Despite the fact that I have been calling the end of bear market below 600 due to the long term technicals, this market has no bottom until the very basic fundamentals of the global economics are stabilized in terms of demand-supply balance that can be translated to credits, consumer spending, production, unemployment, deflation, liquidity and all other factors...this may take decades. But regardless I will be closing my positions below or near the 600 because I always traded charts not economics.