Free Falling

I wanted to get a few thoughts out before I head out to a doctor's appointment
  • If I were lucky enough to be short I would surely be covering here (but I am usually a bit early).
  • However it might be a bit early to buy the market as a whole.
  • I am sure there are individual bargains in the midst of this chaos.
  • Apple (AAPL) is starting to get cheap based on forward earnings. Excluding cash they trade at 15 times next years projections. The key is figuring out if people will be willing to pay up for their products in the midst of a recession.
  • The call buying on the ISE is bothering me.
  • Are bulls still holding out hope for the market to rally once the bailout package is passed? Maybe we need that event to pass before we can get true capitulation.
  • Is Hank letting the market fall to pressure Congress into passing the bill?

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