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Ghost Town


Ha--you called casey a slacker. THAT is funny!


Indians scattered on dawn's highway bleeding
Ghosts crowd the young child's fragile eggshell mind

(The Doors)

Well, my friends, Monday in Minyanville is slowly creeping closer to a memory and not a moment too soon. Despite the warmth of my fur, I'm not feeling all that great and I'm looking forward to turning it off, tuning it out and climbing back into bed. Apologies for any lack of mojo--the bug musta crawled outa me arse and into my belly! (Shush up Fokker!)

I've received a buncha emails regardling my long-term bearish view (particularly on the financials) and I promise to discuss this more in the future. Suffice to say that I believe in a historical regression to the mean valuation and, just as we "overshot" to the upside during the bubble, I think we'll do the same on the unwind. Further, it's my (humble) opinion that the financials will lead us lower as a function of credit risk, derivative potholes and the alleviation of over-capacity. I'll circle back to this at a later date (hopefully when the market is rallying!) but, as a few Minyans inquired, I wanted to quickly touch on it.

With that said, there remains risk to both sides of the tape in the near-term and regardless of your posture, we must respect the powers that be. As Snoop Tone alluded to earlier, there is "headline risk" 24/7 and, with the tape as jittery as it is, traders will shoot first and ask questions later. As such, I'm going to humbly remove one appendage from my bear costume and hop home on a single leg (discipline).

I know that most of you aren't having fun in the muck but look at it this way-- If adversity builds character, we'll soon have enough characters to fill Minyanville! Seriously though, this can all seem overwhelming at times because, well, it is. Take it one step at a time and remember to focus on the important stuff. Perspective is a necessity of balance and balance, my friends, is the key to life.

Finally, I want to thank EVERYONE for their kind words regarding the charity auction. I would specifically like to thank Jordana Sontag, Scotto Sklar and Casey Slacker (kidding!) for their help in bringing this collaboration together. Cary Kahn (Bears fan, I checked) currently has high bid at $8500 and I'm totally humbled. The auction will continue all week and culminate with Sunday's bowling tourney stay tuned!

Have a peaceful night.

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