Thursday, February 12, 2009

Reporting Live - Market has a "Movement"!

What a day in the markets! Praise the stock gods! Mothermarket didn't castrate the bulls. The Obama administration is going to provide the homeowners with some relief.

After the Geitner fiasco and the market back on it's lows, things didn't look to good. Of course, I was out buying BAC in the weakness because my robotic brain told me that the market was going to pop on any good news. And we really were due.

And we got it. But it was more of a cathartic move to the upside. You know, kind of like when you've drunk way too much and are just looking for a little relief. A good, hard, long puke. And up we go!

Don't get me wrong. I'm not bullish on the economy. It's bad out there. But I'm bullish anytime we get below 8000. The US economy is still screwed and we are going sideways for quite a while.
Disclosure: Long BAC

And now we return you to the "Farting Clowns Christmas Special", only on Ranting-TV...

No comments:

Post a Comment