We missed this little trading rally, by not being aggressive enough in our last comments. That means, stay with the Macro short position. The election direction seems to have turned with Obama’s speech last week. Now we can wait for the 890 buy area on the S&P.
You need to read John Mauldin’s Weekly E-Letter of September 11 titled “The Last Half”. (See our regular links section) It is one of his better letters and I think the idea presented by The American Society of Civil Engineers at www.infrastructurereportcard.org makes the most sense of anything that I have read since the meltdown started in 2007. It follows on our premise that the only way to get this economy turned around is massive infrastructure investment and most importantly in their report they provide a workable plan to generate the funding.
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