Sideways is Good

Futures are in breather mode this morning after yesterday’s big snap back rally. That’s good for the bulls as a huge gap up would be met with immediate profit taking.

There is chatter now that Obama’s budget has to be reworked as some Democrats just will not sign off on it, that could bring some near term confusion, but in the long run could prove to be a positive for the markets. Stay tuned it’s still early.

Jim Chanos is commenting that AIG looks like Enron, he should know, he uncovered the scam there, but what does he know, he’s just an evil short seller. Speaking of hedge funds will they be lining up to buy the toxicity soon? If you have $10 billion you can step right up to the plate. Here is Timmy’s web site. Oh, and buy all means, bring your leverage because leverage is a good thing when the govy needs your help.

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