RE: RE: RE: RE: RE: well kids.....
Hope she is going to help you celebrate new year's in an appropriate Ox manner...
Yeah - I'm expecting Depression as well before we see light at the end of the tunnel. It's the falling construction crane problem... bolt snaps at the bottom and crane starts to topple. There is NO FIXING that problem until the crane stops falling... so the problem observed when the bolt snapped ( perhaps the summer of 2007 and sub-prime defaults ) seems much easier to understand than when the crane has crashed through a neighbouring building and is threatening to drop onto a car lot of brand new high end Mercedes and BMW's. I think we are seeing it crash through a neighbouring building right now and there is still plenty of falling to go. But you can't stop it now because it has it's own momentum.
Companies laying off people to preserve capital or because credit is not available is a recursive snake eating it's own tail. We can not stop it - only slow it so the landing on the ground won't have as much of a loud bang.
Now I am not against Obama spending a few nights in an Olive Garden speaking privately with his father in heaven and then coming forward, raising his arms towards the sky, and declaring the economic crises to be "hereby over". But I still hear breaking glass and twisting metal and people screaming... I am glad Obama is in charge of this mess and NOT THE OTHER ONE...
So when I say I am smoking drugs, it is in reference to having the illusion that this rally could be the rally that leads us out of the bear market... that would be a hallucination if I believed it. But I do think we are seeing these little stupid pockets where someone is trying to be positive where there is not reason to ( i.e. traders bringing price of oil up when it can't really be supported... numbers this morning weren't BAD, but they sure as hell werem't "let's-bring-the-price-of-oil-up-a-buck-or-two GOOD...", and yet oil did rise ) although I only closed up .09¢ - I'm shrugging my shoulders on this one because I have no idea which one I should be holding over night... or I should have sold when I was in the green. Now Avg Cost is $8.24 as I accidentally bought 500 shares at $7.50 today - was an oversight order I had put in yesterday when HOU was tanking... and it filled this morning... because TD hadn't processed my Cancel... So did OK on a very tiny small level... Yay !!!
See ya' all in the morning...