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I think Raks' call is spot on though. I mean seriously, look at he markets behaviour these last two sessions! Very irrational.

I don't think it is gloating, or even taking joy in their pain. Just a mere observation that they are out of their brains, falling over each other to sell one day, then climbing up each others backs 24 hours later to buy back what they sold at a 20-30% premium.

It is unavoidable to draw such a conclusion, because what we have seen these last two days is sheer madness.