I have noticed over at Seeking Alpha a different tone in comments to my stories starting about a week ago. The bulls are strikingly confident and almost flippant at any negative comment or selling of almost any stock. Today has taken it to a new peak, as the feedback I am receiving in my email box for my sell of Potash earlier this week is ... fervent. Now having been a Potash investor on and off since 2007 (most likely longer than most of the people kind enough to email me about my lack of skill, knowledge, or manhood) I know the Potash investors are like gold-lite in terms of worship. Almost like the DryShips (DRYS) crowd, although I expect the drop in stock price from $120 to $5 has more or less killed that cult.
I have asked these people to email me their public notes earlier in the week where they had predicted Potash would pre-announce guidance over and above what the company offered 6 weeks ago. So far none have kindly replied. I also asked them to note the stock I was most interested in as a replacement in the portfolio for Potash, Cleveland Cliffs (CLF) is up by the same amount - perhaps more - in the same time.
None were kind enough to note my avoidance of the DragonWave (DRWI) implosion [protecting capital], or the nice run in Las Vegas Sands (LVS) this week *sniffle*. (dab eyes) Mostly I am struck at how people are very defensive and emotionally attached to their stocks - it's not a marriage people. If you have 20-30 of them, and one is just the same as the other in your world view - you won't have the same cult like affinity for any one. And when someone sells your favored son, it won't feel like a personal affront.
Perhaps the unending bull run continues on and on... (and on) for weeks and months to come, but this is another indicator to me.... let's call it the belligerent bull meter... that more and more people are piling in on the same trade, and feeling unstoppable, and unbeatable. And quite annoying.