Monday, November 2, 2009


As a practitioner of The Grassy Knoll Theory of Investing (there is a 'They' and 'They know") I am dubious of most EVERYTHING.
Of course this can lead you into the "Wilderness of Mirrors" which term the CIA's counter-intelligence czar James Jesus Angleton coined and which trap he fell into:
...Angleton came to suspect Secretary of State Henry Kissinger, who commented wryly that even the most brilliant and loyal officers should not spend their entire career in such pressurized and paranoid fields. Angleton also privately accused numerous members of Congress and President Gerald Ford of treason. Angleton's notorious pursuit of the "5th Man," who he believed had penetrated a secret agency in Washington, was solved, he believed, when DCI William Colby fired him. No one was above suspicion, and even Angleton himself was accused by others of working for the Soviets. (Wikipedia)
Oh well.
From The Pragmatic Capitalist:

S&P futures have reversed this morning’s gains for a full 2% decline. High beta is leading the charge down on heavy volume. Not exactly the kind of action you see at a bullish reversal point in a rally. Of course, we’re not day traders here at TPC nor do I emphasize such trading, but this it notable action on a day when the data appeared quite positive.