The market sentiment game is in full swing…

It’s a market bottom! See, the MSM said so. What could go wrong?

Dow futures rally 200 points as analysts call market bottom

Get this, the bounce has been expected by those of us not playing the emotion card. It is also not expected to be as strong as the post-September rally for myriad reasons, several of which were noted in NFTRH 382.

In line with this I covered all but one short (held for personal reasons) and am net long (with lots of cash). This was when the same MSM was massaging us bearish. The long stance is likely very temporary as it is counter-trend.

Separately, gold is taking a good old fashioned risk ‘on’ whacking today. All is as it should be for now. If something changes to the basic plan, NFTRH subs will be the first to know and you dear blog reader will probably get a memo as well.

Meanwhile, I was amused to be called an “internet dipsh*t” (i.e. deflationist) and a “flipped out” gold bug all in response to the same article that merely stated its logical case that is supported by theories that have become facts over the last year.

Bad News/Good News for Gold Bugs

It is time to be unemotional across all markets. If I am wrong I (and my market service) will stow the ego and adjust accordingly. But so far, it’s all according to plan and so we are not wrong. All this pro-gold, anti-gold, anti-stocks, pro-stocks noise that becomes most voluminous around reaction points is unhealthy.

Unless you’re a down and dirty day trader you have to have a plan, and that plan should not include giving weight to idiot headlines like the one at the beginning of this post (unless you’re feeding it into your market sentiment analysis).