My Week So Far

Woke up. Amazing talent! Turned on “Today,” “CBS This
Morning,” and “Good Morning America.” Loved what I saw. All three
starting their shows about the bear market. Took them 62.1% to make them acknowledge
it. Checked out a few newspapers. Loved what I saw. Bear Market… Bear
Market… Bear Market. This was a good start to my day. Part of the process in getting the market to turn is
the World coming to the recognition that things are bad –  after the
fact, of course.

Did the I-4 shuffle. If you live in Orlando, Fla., you know what I mean.
Fifty-five minutes to go 17 miles… all highway. At least they are polite.
Signs tell you of the impending traffic before you hit it. Probably will get a call from the Chamber
of Commerce on that one. As I drove in, listened to some business reports.
Mostly Permabears coming out of the woods. I like that.

Got to the office. Immediately went to some favorite Websites. Loved the headlines.
“Last Horizon: Why Buying Tech for the Long Haul Makes No sense.”
“Time to Say Good-bye to That Struggling Tech Fund.” Just
two of the beauties. If you replace the word “tech” with the word “value,”
you
would have the headlines of last March.

Then the fun begins. Well, fun for me. Started going through a few thousand charts.
I have been concentrating on five-year weekly charts because they give me a better
picture. After all, major indices are back to their numbers of  two years
ago. As much as I want to be optimistic, it was one big giant Ugh! Back to the charts in a minute.

Met with some prospects. Very nice people. Just sold their Janus funds because they were ill from the
drop. They didn’t understand why Janus didn’t go to cash before the drop. Tried to explain the problems of selling several billion
shares of stock.

Listened to a real donuthead on CNBC. Actually said that it was good that the
Dow, S&P and Nasdaq fell on higher volume. That man needs a TradingMarkets
subscription. Read about Galvin and Battipaglia reiterating their bullish outlooks and
targets. Got to hand it to them for sheer stubborness. 

The market finished nicely. Put/call numbers were up, sentiment turning bearish and serious oversold conditions. Ingredients for a bounce..

4P.M.   Oh, by the way.  Go to Eroo.com to listen to the most
popular, hard-hitting, knowledgeable radio show on the markets in all the land.
(Monday-Friday as the market closes.) I hear the host is really good- looking.

After show, had important meeting. Arrived home at 7pm. Hugged the wife and
kids. Talked about their day. Kids are out of school right now. They told me about the cool animals they saw at a science
museum. I couldn’t compete with that.

Watched “Seinfeld.” Great show on Tuesday. Jerry hated the fact that his
girlfriend walked around naked all the time. George told him that he was spoiled and that he has to put in an effort just to fantasize about things
like that. Still laughing about it.

Read TradingMarkets commentary. This guy Goran… really needs to stop waffling and start giving out some strong
opinions. Wow!  I always want to be on his good side. I miss
Marder. Hurry back. my friend.

Oh, the charts.

Woke up to the “Today” show. Battipaglia being interviewed by Matt
Lauer. Amazingly, being treated like a guru. He says you can’t time the market.
Well, my good friend, you are right. You definitely can’t. Operative word
being you. He goes on to say he is still bullish. Wow!

Turned on CNBC. Mistake! Dow futures down 210, S&P down 30, Naz down lock
limit. Europe trashed. If the market’s bounces can last only one day…