- I suppose now we're all getting the feeling that the rally of Thanksgiving week is failing and something horrible is looming. We're watching world markets and seeing that they too are failing. The news releases seem to get worse and worse. Of course, the latter is what you'd expect when a new bull market is born. But it never quite feels that way. It's difficult to be optimistic when there is very little good news in the news headlines.
- I remain 100% long the market. Even if the market retests the lows or makes new ones. I don't see evidence among my friends and family that the economy is failing. I don't see evidence at the stores or restaurants I go to. (Tonight... Hooters. Crowded as ever.)
- It's easy to get cynical at this point with the market down nearly 50%. One can bottom fish and hope that things improve, or in the case that things don't, money will be worthless anyways. There will be a new country and new currency to take its place. I'm not that downbeat and believe that "this too shall pass."
- Will job losses drive the Fed to cut rates even more?
- ATT ($T) cuts 12,000 jobs.
- Will Barack Obama cut capital gains taxes?
