Roger Nusbaum asks, what would Lou Rukeyser do? Remember back in 1987 after the market crash? Lou said, "Let's start with what's really important tonight," he told viewers. "It's just your money, not your life. Everybody who really loved you a week ago still loves you tonight. And now that that's all fully in perspective, let me say. .. Ouch! And: Eek! And: Medic!"
I've found myself saying much of the latter the past few weeks. It's been pretty brutal for us longs. I was able to do some tax loss rotations Friday morning. Hopefully, that'll be the end of that.
I've been running the Black Box models against the market, and the volatility is really throwing the models for a loop. As I mentioned over a month ago, I've quit trading them until volatilty settles down. And truth be told, there's no leadership in this market. At least from the bullish side. One can say that on the bearish side, financials have been leading.
Ah... Saturday. Hard to believe the college football season is winding down. Already!