I think it’s time for a do-over. Talk about getting off on the wrong foot. I can’t remember that last time I saw anything this ugly. About all I can say is this – cash is king and there is a reason why we use stops.

This isn’t overly complicated. The talking heads may think it is but it isn’t. The other shoe is ready to drop. Subprime is still the word of the day as Bear Stearns’ chief Jimmy Cayne is headed for the showers. Countrywide is rumored to be nearing a bankruptcy filing. Is there anyone left who cares? Merrill Lynch says we’re in a recession and the Fed is still up in the air about rates.

Nothing has changed – more sellers than buyers. We’re still on defense will a couple of shorts and some really tight stops.

When this nightmare ends, we should see a pretty good bounce.

As for New Hampshire, Obama is the media darling and the leader so look for the Clinton’s to dig into their bag of dirty tricks. We haven’t seen anything yet.

Keep your hard hat on and stay low.

RAC
The Stock Trading Advisor