Friday, February 6, 2009

Markets: Your Love is Lifting Me Higher

Sometimes markets just make up their collective minds to go in one direction or the other and it pays to set Graham and Dodd down and start dancing*. Here's Jackie Wilson:

*Although we've had a bullish bias for a week now, I want to stress that this is a psych/sociology thing and you have to be sensitive to changes in mob psychology, as we said on Monday:
"Our two guiding principles right now, are:

Anything past settlement date is long term.
Anything long term is terminal."
It is good to be nervous right now, it is survival mechanism.