- So the market was down again today, defying those who keep trying to tell us that the market never moves in a straight line.We can play the blame game, but the reality is that we have as much bearishness and gloom here as we had bullishness and hope at SP500 1565. It's all about credit. It's all about oil. It's all about the falling dollar. It's all about [insert gloom here]. We can find reasons; they're in the headlines everyday!
- We'll only know in retrospect if this is a bear market or a correction. I'm still in the latter group. Anyone else declaring what it is, is just guessing. Because who really knows for sure? I'm sure if one is out of work, it's pretty bad. But if one isn't, have you even noticed any personal damage from the subprime stuff?
- Howis the put-call ratio doing? Holy smokes, look at that altitude! Mt. Haleakala has nothing on the $CPCE!
- That'd be bullish, according to my trustworthy handwritten notes.
- I remain long and not doing very well in 2008. I don't even feel bad or depressed about it. Why? Because I have the Fed on my side cutting rates. I have the government on my side with a stimulus package. Employment is still doing well. Inflation is realtively non-existance at the core, which really is what matters despite what is being reported in the headlines. Energy prices really haven't had much of an effect on the core rate as oil went from $12 to $100.
- Food has gone up in price, too. But we're using it for fuel now. How dumb is that? I'm not even sure how economically viable is to produce ethanol in the first place. Lots of energy used to make the stuff.
- Work is going well. Sure, the first day back from vacation was ROUGH.
- Catching up on TV. I finaly caught an America's Next Top Model, and although I'll probably watch, it's getting a little long in the tooth. But Tyra Banks has shed some pounds for sure.
- I didn't watch Star Trek Deep Space Nine and only briefly saw Star Trek Enterprise. But have been recording them as they're aired late-night and on HD-Net (respectively). Not as bad as they seemed to be when they were running in prime time. Or maybe it's just this Star Trek void we've had for years.
