I hit the futures this morning by 2 at the open they were Down 42 with fair value at neg 25.
down 40 was my guess.... it was sketchy there for a bit. as they rose to roughly Zero for much of the morning.
For about 5 mintues I Felt Bullish, as the idea that we could push all these credit problems, and housing depression... out of our mind, and remember the baby jesus.....
Then I rememberd the flat earnings for the past 6 months, oil still isn't going below 65, and the eggs I purchased this weekend were still $2.50. and the consumers are buying Ipods and not big Screens :(
I'm trying to remember how far the indexes fell, last time I felt Bullish.
Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
J. P. Morgan
Monday, December 3, 2007
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