- You know, this market has had an incredible move up since the lows of the summer correction. It's been grinding higher amid non-belief, while folks anticipated the September-October bottom and had their "list of stocks to buy" at the ready. We're at the place now where it feels like all good news and all bad news are reasons to buy stocks. This may be the function of money coming out of oil and housing, as well as underinvested bulls and bears who were wrong about their predictions of a bear market. Remember those who were calling for a big bear when the yield curve was inverted? Well, they've been wrong.
- And maybe me selling some stocks last week and some more today was wrong. Tops take a long time to form and the market can always extend the trend for far longer than anyone realizes. By the way, when I'm wrong it's not the "end of the world." The market will be open for trading tomorrow. Buy and sell signals come and they go, over and over again.
- California sues automakers over global warming. That'd be state Attorney General Bill Lockyer.
- The reason to get off of oil was extremely obvious this week. There are crazy people running Venezuela and Iran. Hugo Chavez called President Bush the Devil during a UN speech. The faster we can get off oil and quit sending US dollars to these nutjobs, the better.
- The nice thing about having cash on the sidelines is that money market interest accrues at very little risk. It's not like having a sports bet on the Oakland Raiders and 4-quarters of ball to get the point spread lined up correctly!
