late day r-a-l-l-y!!!

complete opposite of yesterday. Crazy times call for crazy markets. This market is like Dr. Jeckyl and Mr. Hyde and both are hopped up on crank.

Late in the day the market took off, closing near its highs for the day.

Happy Friday.

DJIA 8,046.42 +494.13

NASDAQ 1,384.35 +68.23

SP500 800.03 +47.59

late day f-a-d-e...

the markets continue their perpetual death spiral, the whole ugly mess circling the drain. We keep at it we're going to crush the lows set back in '03. Another ugly week to an ugly month to an ugly quarter to what is ending up to be a very ugly year.

More funds continue to announce major losses. More firms speculated to be on their way out of business. One thing to note: there is a ton of cash on the sidelines. To prepare for redemptions, managers have been selling equities and raising cash. Some multi-billion dollar funds are down to several hundred million in positions and the rest in cash. When the tide turns and who knows when that will be, the cash will be put to work. For the meantime, there are still plenty of opportunities to the short side as stocks continue their free falls.

On the bright side, it's getting cheaper to fill up that SUV each week.

Someone once said that the best and brightest opportunity exists in the darkest and most depressed period. Are we there? Yes we are.

Happy Thursday - get prepped for a short and sure to be volatile week upcoming.

DJIA 7,552.29 -444.99

NASDAQ 1,316.12 -70.30

SP500 752.44 -54.14

selling into the close

A rough ending to another rough week for the bulls. The bears may have reason to get excited as the indices start their move towards the bottom of the downward trending trade channel. After lots of commotion and new conferences and hearings and the like, ultimately there has been no sea change in the nation's economy or the global financial problems that are facing not just the US but Europe, Asia and other parts of the globe.

So Soros came out and said that the HF industry will be decimated. Yes, funds will shutter their doors and close as assets are pulled out due to poor performance. However, a good performing fund that employs prudent use of leverage and has rigid risk control guidelines in place will continue to gather assets and flourish. The great managers of the past decade may be turning over as a new breed of manager takes their place.

In other related global news, oil is now trading in the mid 50's. There were a lot of oil bulls out there that have gotten absolutely decimated with this oil sell-off.

Happy Friday.

DJIA 8,497.31 -337.94

NASDAQ 1,516.85 -79.85

SP500 873.29 -38.00

another volatile week

so Obama is now the president. Now what? The party in the markets quickly ended after the election as the down saw one of its worst 2-days slides ever. Despite a pending change in the administration, we as a nation are still left with an ailing economy with a high unemployment rate and fighting a war that is draining the lifeblood from the country's coffers.

The market bounced back a bit on Friday but the current climate is still the status quo. More rough times ahead which means more downside volatility for the markets.

Happy weekend.

DJIA 8,943.81 +248.02

NASDAQ 1,647.40 +38.70

SP500 930.66 +25.78

Elected.

The first trading day of November is in the books. Here's to another month. Probably unlike the previous one. That one was one for the record books.

Today is the day the US chooses it's president for the next 4 years. Get out and vote and do what will be best for the economy in the long run. And the one that will end the war sooner than later.

On vacation last week/weekend. Missed the regular Friday update. I was down in the great state of Texas doing fun stuff.

Here's to motivation all the way around.

Happy Election Day.

DJIA 9,319.83

NASDAQ 1,726.33

SP500 966.30