Taking the Pain

 | Jan 27, 2014 | 2:52 PM EST  | Comments
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intc

You have to like the shrug-off here. They have really crushed them, with the last of the hot ones being taken out and shot.

I don't want to sound like an old fogey, but you aren't going to get an investable bottom until you really put some pain into this market.

It's a nightmare for those who just bought. We know that. We know that there has been tremendous pain without any reason for most stocks and we are in the foment-a-reason-for-it moment.

To analogize, when the personal computer first took hold, we had huge moments of up, up and away, followed by vicious declines. Everyone presumed a slowdown in personal computers.

"It's over."

Guess what? This was early Windows and early '86 from Intel (INTC).

There was no real reason besides overheating.

If you bought at the top of one of those moments you were furious at yourself.

Now, you just get furious at the people on TV!

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