Where did I ever say that they couldn’t stop it in the short run?
As a matter of fact, after years of being a short-seller, I exited all my positions in October of 2008, and told anyone who cared to ask that we would enter a period of volatility during which both bulls and bears would have their legs ripped off, and then said that things would go up for as long as the Fed spigot was turned on.
I have always said that we would see 35-50% off, and still stand by that prediction. We’ve already seen aggregate declines in SD County of 40%. I believe the high-mid market is the next to drop. No wavering on that one, either.
