bluesdog thursday, page-38

We are almost half way through 2009 already!

Each day is shorter than the previous day and that's why time seems to be moving faster as we age. You see, when you are 1 years old - it takes you a lifetime (1 year) to turn turn 2. When you are 10 years old, 1 year is only 10% so it seems to go faster based on our age. Anyway, I'll leave the genius numbers for ninelives to decipher!

To the market - anyones guess as to which way we go from here. I had a decent short position on the market at 4000 but exited based on Terry Laundry's very bullish view. The lesson here was never act on other peoples views (a lesson which I have experienced too often - clearly i have yet to learn from this mistake... yet).

So Laundry speaks of time symmetry - to sum up he says that since we had a 17 month decline, he is of the view that a 17 month rally is on the menu. Yes it would make the charts look nice and balanced but that's not enough to be gospel in my opinion. His cash build up phase is the only thing keeping his argument alive and that's showing cracks now. Maybe Laundry needs to 'clean' up his act lol (no hard feeling tezza).

Big Ben Bernanke is speaking tonight. Whether he speaks of future contraction or expansion, inflation/deflation the market usual reacts as it always does (without logic).

If the market wants to go up then this recent decline is exactly what needed to happen. Flush out the bulls and drag in the bears.... then woooshka (wink) on the way up.

If the market wants to go down, then I expect a rally here to drag in the optimists in before legging down.

And they say humans get cynical with old age!


good luck to all