Mornin

The markets are taking a little dip this morning, SPUZ are down about .55% or so and commodities are weak across the board. POT warned about weak earnings late friday, stock is getting hit to the tune of about 5%. The marke in general is massively overbought, with all kinds of records being set as far as puts vs calls trading, in other words people are positioned for even further gains in the market. I saw something in the weekend WSJ about Jim Grant being bullish??? Did I read that right? I need to reread it. Jim Grant is a brilliant guy and often I find him hard to understand b/c he is on a higher intellectual plane than me but if he's bullish Im gonna be even more bearish (in the short term that is).

More later

JB