Gotta Go With My Gut

Maybe it’s 20 years of doing this for a living but my gut says lower here. I don’t know how to describe it, but it is haunting me. Bear Stearns being allegedly cut off from international business, Drake Capital a multi strategy fund getting attacked with redemptions, nasty Wells Fargo rumors, Fannie Mae chairman saying we are only 1/3 of the way through housing downturn. The financials closing at the lows.No follow through. I really believe that we haven’t seen the start of hedge fund blow ups. That space always has a delayed reaction. It just doesn’t feel right and the good karma is lost on me.. I am starting to believe it was just a fed induced short covering rally. The dollar has left the building, and as a result oil is popping. Day by day with this market, thats all I can say. I just don’t trust it here. Give me 600 down and I’ll be happy as a clam.

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