Bulls get 'ShitKicked'...Long Live 'Fleck'

About time.

Who the hell knows why (except Fleckenstein and Trader Tim). Like Apple was not due for a trouncing after a 50 point run. Like Baidu was not due for the same after a straight 80 points.

Now I won’t sit hear and say this is good for anybody. That’s just crap. I want my stocks to go up every day. They just don’t. They should’nt. It’s been too easy.

All that said, the homebuilders are way overdone on the downside and this massive new wave of selling feels way wrong and too momentum based. I dipped my toes in the value traps – MTH and the ITB (ETF) – and am down a fast 10 percent. I am adding to both tomorrow. The sellers are just puking up those stocks at the wrong time.

The iPhone is awesome and if that’s what has people spooked, they are wrong. Apple the stock I have no idea how to value, but the iPhone is a winner and a new game changer.

Disclosure – Long AAPL , MTH , ITB