Recession Gathers Steam

The bad news continues. Home sales. GDP. Whatever. Doesn't matter. It's gloomy out there. "The bottom line: Bah humbug. Recession, recession, recession," said Jennifer Lee, an economist with BMO Capital Markets in Toronto.

I've been working weekends and evenings lately trying to wrap up a project by year's end. Outside of that, I've been out shopping. I can say that the malls are empty after 8pm. I remember long lines at Best Buy in year's past. Not this year.

I'm more upbeat and positive than the news headlines. I've been that way for quite some time. The one thing in the headlines that bothers me is that we've taken our eyes off the energy ball. I don't think energy prices will remain low for long, and the issue of our importing energy and high prices will be back.

No Santa Claus rally yet. I remain long and patient.