I tell you what I should have thought about fading was congress back in session I swear to god, next I'm going to get a call from my bank, insisting that I borrow money.Why?
Cause apparently it stimulates the economy.. Sure.. Lack of credit is a problem.... But there is a demand problem....
I've said in the past I'm a "supply and demand" purist.... I'd almost say fundamentalist.. but I don't believe in fundamentalism.
There has to be demand for loans, and people are contracting, paying off loans, not borrowing...
Congress needs to incentivize spending, not borrowing
So... I puked this up..... Wierd there is stregnth in the market somewhere... and I can't find it, mostly because I'm blogging instead of looking for it.
but in this move I took profits in anything I had.... Looks like I'm trading around...today
there is nothing good going on....
as I'm typing we are doing a second retest of the 50dma
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
Friday, January 9, 2009
Crazy is back in session
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