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.Â Just yesterday President Bush said a long and painful recession is coming up;Â 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.Â Â It is almost enough to make a contrarian wildly bullish.
8:21 AM CDT
Update at 10:05 AM CDT
We are triying to cover the short bond positionÂ between Â 115 and 116 today on a spike down.Â Our stock positions have inched up to 38 percent long on the selloffs this week to 1190 area on the S&P.Â We would not recommend being more aggressive than that, this is still a very risky situation.