Still Waiting, but….with Update

Like yesterday there is nothing really new to talk about except that the “Axis of Ignorance” is finally getting it.  Just yesterday President Bush said a long and painful recession is coming up;  Jack Welch says a deep downturn is coming; and John McCain says the market is going to crater and because of that he is going to suspend his Presidential campaign to save the economy.   It is almost enough to make a contrarian wildly bullish.

Stay tuned.

8:21 AM CDT

Update at 10:05 AM CDT

We are triying to cover the short bond position between  115 and 116 today on a spike down.  Our stock positions have inched up to 38 percent long on the selloffs this week to 1190 area on the S&P.  We would not recommend being more aggressive than that, this is still a very risky situation.

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