Keane opined that the market is confused. Despite the indices making lows, there are still many US stocks that broke 3 year high within the last 2 months. Asian markets have retreated relatively more as Europe pulled their money away from Asia to save themselves. US has a lot of multinational companies overseas and hence are less affected by Europe woes and US debt problem. He is waiting for the last support to be weakened and the market will be on a bear run. However, there are more limitations to short selling than on the long side, for reasons such as the availability of stocks for shorting. Hence he will be holding cash in anticipation to buy a lot of stocks at the low, just like the low point in 2009. The stock market is never stable. Most importantly you must be stable.
Secret of the Rich – no fear ......