I am looking through my positions and other than WEBX, which I am stupid enough to have an opinion about, today’s downdraft was a yawner.

BUT, what the hell is Dell doing at $27 and GM back at $30 ($35 a few days ago).

Honestly, both stocks were about $18 before this great rally and if you were stuck with these pigs at that price and still own them, consider yourself lucky. There are better places for your hard earned savings I am sure. If you were smart enough to buy them as a trade down in the teens, you were smart enough to sell them and are not reading this blog (unless you have wireless from a Tahiti beach). These two stocks have absolutely murdered the shorts the last few months.

Here are the only three charts of hundreds that interest me today:




I wrote this morning that the majority of America (Walmart) sees deflation. I should have noted – EXCEPT FOR DRIVING. The rich are neglecting the real inflation – travel (airfare and hotels), fuel for the hummers, and entertainment (dining out and freaking movies are $10).

There is a HUGE disconnect in inflation expectations and the price of gold – nnless we are in a new paradigm (always possible).

I feel an event brewing but am not an oddsmaker or event better onner :) .

Currencies and Bond Markets are a tad larger than the equity markets and the charts look explosive. Combined with the general calm in the stock market, a big event would not surprise me. Lot’s of cheap puts and calls have been put into action the last few months.

As December is normally a good month, that would make it all the more surprising.

BY THE WAY – While working out I saw Abby Joseph Cohen’s bullish mug on CNBC today (muted of course). I can’t imagine she was sounding alarm bells, so it is fitting the market got crushed today. Who is still listening to her? No doubt she is smarter than me, but talk about a lack of content.


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