I’m still catching up on what I missed today but it looks like I missed a barn burner. I am now watching the debate and both candidates look poised and well prepared. This is the most exciting election/ market cycle that I have ever seen in my life. Fortunes are being made and lost on a daily basis and our nation is getting more passionate about the debate. Who can blame us? It’s phenomenal theater. Shakespeare or Spielberg cold not write a better script. Still the greatest country on planet earth.
My friends from the left and right are going ballistic and I love them all, it’s what makes our country so freaking phenomenal. The whackos that read a sound byte or a headline but nothing further are the ones that I just lose patience with. They screw up the true dysfunctional beauty of the process.
You all know I’m a bear on the market and I’m pissed that I missed the action today. Will tomorrow be a meltdown or short covering rally? If we rally it will be on a technical basis only as I feel the recession will be worse than even the most vocal bears think. Oddly, there are pundits who are still questioning if we are in a recession. Take two hits of the crack pipe and call me in the morning. My two longer term shorts, RTH short from $95 and GM from $11 are still on my sheets. I can see $80 and $6 on both.
I’ll be back early.