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Oh, Yeah, I'm Still The Mark

|Includes: Apple Inc. (AAPL), CAT, SPY, TEX

Well I was smart enough to raise some cash the last few months getting ready for this almost guaranteed pull back in the stock market. But I thought it was going to be faster and harder. Now we are having this slow, painful descent, and I just don't have the guts to jump in here.

It seems to me that there is a good reason for the market to pull back. It needs to come in a lot more, to me. If Apple is only worth a PE of 12, where does that leave anyone else?!? I just don't understand anything these days.

I didn't understand the last few years when the cyclicals were flying up. Didn't the people buying these stocks know the recovery was slow? Were they not reading the same news I was? When Terex (which I own a lot of) got north of 30, I was so confused. But I didn't sell, because I am terrible about holding losers and selling winners prematurely. Well, heck, TEX is at 14 again. Still above my cost basis, but, but, but its was over $30! Makes me sick.

So things look pretty ugly again. The bottom could be a long way away. Guess I'm a sucker again and won't be buying anything for a while.


Disclosure: I am long AAPL, CAT, SPY, TEX.