Morning Observations

  • On second thought maybe I was wrong about people being bearish. The S&P opened down 20 and calls are being bought. Despite the call buying the market is not rallying. Very troubling.
  • Am I upset I covered my retail shorts? I am never upset about making money. I used to look back and said I should have held on but that is counterproductive.
  • This could get UGLY.
  • That would actually bring us closer to a bottom.
  • The Fed bailed out AIG and is running out of money. The Treasury just announced that they will be injecting funds into the Fed. Is this the beginning of money printing?
  • Stay tuned.

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