- The market continues to swoon. Hey, weren't we just at new highs for the market a few days ago? Meltage happen quickly in either direction, then a trading range sets in. Notice that? You have to think a bounce is coming, because the market doesn't go in a straight line either way for too long. I'd think options week is going to set the stage for a bounce, but wonder if the intermediate trend is now down for the seasonal/election year stuff. We shall see. Put call ratio is showing a ton of bearishness, so that could set up the stage for a short term bounce. I have the low-beta stuff and some cash parked in money market funds. Have to watch out for the emotional play here.
- My oil thesis was that oil would be higher by Memorial Day weekend. Then the bump happened in a couple days with whatever whas happening in Nigeria, and I wondered if I should book 'em or let 'em run. We've pulled back today on (maybe) some profit taking. I still own oil.
- Caught up on ... The Apprentice? Michael got fired. He was kind of flying under the radar for most of the season. It's getting interesting now. America's Next Top Model? Joanie is my recent fav, but I kind of liked Sara. I don't like Jade much, but she does take good pics. And on the Amazing Race, MoJo was my least favorite. I like all 3 of the final teams, but have to think the Frat Boys have the edge. Probably pulling for the hippies in the finale. They had to wolf down a bowl of fried crickets and grasshoppers to get the Fast Forward this week!
- Market fading into the close here. Then I'm going to lunch!
