Bad Hair Day…
“Failure does not equate
to a crime.” That’s what Ken Lay said yesterday. I can’t begin to
tell you how many jokes I could come up with but then he topped himself by
telling his audience that instead of having hundreds of millions in the bank,
he has a few million. Kenny, it’s medication time. Yes Kenny, the one movie I
can think of when I watch you is “One Flew Over The Cukoo’s Nest.” People like
you are in dire need of a certain procedure that keeps you from sitting down
for a couple of days. Ouch! Did I say that? You’re darn right I said that. I
have interviewed ex-employees of Enron. I have been told by many of them how
their retirements are history and that they will have to work many years into
the future to try and make back the money lost. But Kenny, it isn’t just the
money. We are all products of how we feel. Those people who lost their
financial security because of you and your minions, have now got to live with
this the rest of their lives. It will prey on their minds the rest of their
life. It’s them I care about. I am sorry Kenny, but I can’t feel bad for you.
I know in this country you are innocent before guilty, but somehow, I will
have to make an exception in this one.   You have obviously mistaken all of us
for people who care about your plight. You have obviously mistaken us for
people who believe a word you have to say. You may want to go to
“Webster’s” and look up the word “shoosh.” No one wants to hear you and no one
wants to know you. You are a yutz!
to a crime.” That’s what Ken Lay said yesterday. I can’t begin to
tell you how many jokes I could come up with but then he topped himself by
telling his audience that instead of having hundreds of millions in the bank,
he has a few million. Kenny, it’s medication time. Yes Kenny, the one movie I
can think of when I watch you is “One Flew Over The Cukoo’s Nest.” People like
you are in dire need of a certain procedure that keeps you from sitting down
for a couple of days. Ouch! Did I say that? You’re darn right I said that. I
have interviewed ex-employees of Enron. I have been told by many of them how
their retirements are history and that they will have to work many years into
the future to try and make back the money lost. But Kenny, it isn’t just the
money. We are all products of how we feel. Those people who lost their
financial security because of you and your minions, have now got to live with
this the rest of their lives. It will prey on their minds the rest of their
life. It’s them I care about. I am sorry Kenny, but I can’t feel bad for you.
I know in this country you are innocent before guilty, but somehow, I will
have to make an exception in this one.   You have obviously mistaken all of us
for people who care about your plight. You have obviously mistaken us for
people who believe a word you have to say. You may want to go to
“Webster’s” and look up the word “shoosh.” No one wants to hear you and no one
wants to know you. You are a yutz!
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I am writing this from the mountains of Western
North Carolina. I am picking up my son Aaron from camp. I have not seen my son
in 27 days,13 hours, 24 minutes and 16 seconds…but who’s counting. I felt
myself so drawn to him last night. We were going to stop 100 miles from his
camp…but I kept driving and driving. I just had to get closer and closer. I
can’t begin to tell you the love I feel for my kids…and my inability to stop
last night punctuated it for me. I think all you parents out there know what I
am talking about.
North Carolina. I am picking up my son Aaron from camp. I have not seen my son
in 27 days,13 hours, 24 minutes and 16 seconds…but who’s counting. I felt
myself so drawn to him last night. We were going to stop 100 miles from his
camp…but I kept driving and driving. I just had to get closer and closer. I
can’t begin to tell you the love I feel for my kids…and my inability to stop
last night punctuated it for me. I think all you parents out there know what I
am talking about.
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Oh yeah…the market.
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The market had a bad hair day…had to throw that
political joke in. The best news I can tell you is that just on price, the
markets are near-term oversold…so maybe we bounce. But after scanning this
morning, I can’t begin to tell you how ugly things are. For every 2 good
looking charts, I found 8 uglies. That in itself is enough for me. Bounces
aside, this is no time to be a hero. The short-term support I recently
outlined for you has been broken. More and more stocks have broken. There is
now a decent chance for a test of the May lows. Go slow…stay safe. I am
going to pick up my son.
political joke in. The best news I can tell you is that just on price, the
markets are near-term oversold…so maybe we bounce. But after scanning this
morning, I can’t begin to tell you how ugly things are. For every 2 good
looking charts, I found 8 uglies. That in itself is enough for me. Bounces
aside, this is no time to be a hero. The short-term support I recently
outlined for you has been broken. More and more stocks have broken. There is
now a decent chance for a test of the May lows. Go slow…stay safe. I am
going to pick up my son.
Gary Kaltbaum