The market did nothing today to dissuade me from my position. It was very bullish action. I really think the bottom is in for what I call phase one of this bear, but you never say never in this business. There are no guarantees and if I'm wrong I'll admit it.

Something I didn't mention last night that I have on my wish list....a quick, scary trip back to 890 or so. If it happens, and I'm right about the bottom being in, it'll be the last best chance to catch a ride with Jim Lovell (think Apollo 13).

I must say I'm sickened to see the extent of Government intervention in our capitalistic system. These "new approaches" are most certainly the brainchild of one man...Ben Bernanke. The monetary policies of trying to fix every problem as soon as it arose over the last 21 years have led us to where we stand today, on the brink of economic disaster. And the same mistakes are predictably being made again, except this time on an unimaginable scale. Perhaps it's inevitable, but it seems so unnecessary. 

Where we go from here is going to be very difficult to pinpoint in advance. It really is. At this point I can't clearly see more than three months out, and I'm not sure just how clear that vision really is. Anyone who says they can is either lying or stupid. The parallels to 1929-32 are there for sure. It's the massive interference in capitalisms purging process that clouds this picture. And it's very, very cloudy. What do you think HMM?