8/9

Eight out of 9 days up in September - no chance Obama has the market "forces" bidding stocks up is there?? Buffet (ultimate political and wall st. insider) is out today saying there is no chance of double dip...really what is a guy who writes articles entitled "Buy America" gonna say??
We are back to 1999 stock strategies - OPENtable - you make restaurant reservations from the internet or your iphone is trading at 100 times forward earnings and 18 times sales - I suppose the braindead Citigroup analyst who upgraded it today has a paycheck and an IPHONE so perhaps he uses OPENtable but regardless it was up 5 or 6 bucks today in algospasm trading rhythms. The 16% of the job seeking population that is unemployed must also be using OPENtable on a regular basis....Priceline.com, NETFLIX, GOOGLE, Salesforce.com were all doing there thing trading up up up and away....today MSFT even got into the act with a 5% move based on a rumor that they might issue debt to buyback stock or pay increased dividends....You can thank the fed for that, with Treasuries at 2.75% MSFT can borrow at like 3.5% so hey thanks Ben Bernanke - u are the stuff that stupid stock manipulations are made of.
Anyways the permabulls are just as bullish now as they were seven percent ago at the start of September as if we are in some normal environment and not some post financial apocalyptic world - as if we are not in a world where insane worldwide government borrowing is fueling the only growth and spending there is. Perfect example of government stupidity on a local level - Lincolnwood Il - we have perfectly good streetlights on one of our main streets but yet for some reason we now have brand new streetlights that look a bit nicer - so some Union electricians got paid way to much to work for 8 hours and take 2 hour breaks where they smoked cigarettes, ate fast food and pushed up insurance costs - so thanks for that. How the bulls have convinced themselves that everything is going to be OK is most interesting to me. I fear that the conviction that there will be no double dip will make the escape window that much smaller - tread carefully.

JB