Monday, October 13, 2008
TUESDAY AND WE'RE BACK!!!!!
First, please read our post from yesterday and this weekend about the crisis of children starving in the Sudan. Now is the time to stand up an do something.
Second, congratulations to our new suicide pool champ: Surph. We have invited surph to go public so we can give him/her their just due, as well as some prizes we have.
We would like to mention we had an improbable run of picking a winner every week for what was it last year- 9-8 weeks? And then for five straight weeks this year. We finished second along with FACDL Prez Rick Freedman who atoned for his one week and out finish last year. Great job Rick- who knew it would be this week that the Rams decided to show up and play some ball? Oh well. It was fun. Wait till next year!!!!!
We lost our MNF bet (and of course the over won, which we changed from. We have a rule- never ever change your bet. We violated that rule and of course we lost). We finish our week -26 for the first losing week this year, coinciding with our inglorious exit from the suicide pool, we are at +714 for the year.
Third. Many of you are emailing us and asking us privately for our advice regarding the stock market. If you thought we could pick football games, them you ain't seen nothing. We went all cash Thursday August 21, 2008, and sold the QQQ and the various exchanges short (or bought Puts) ever since. However, we took all positions out of the market last week when things got too crazy. As to Monday's rally, two things to consider: 1) In this day and age the bond market is the dog wagging the stocks tail, and the bond market was closed Monday, so what does that tell you? 2) It should be no surprise that after the worst week in the history of the street, we had the best day in 75 years. A classic Bear rally. If we had any stocks left, we'd be a seller on Tuesday. Think of this- have the bailouts done one thing to improve earnings? Is CISCO or ATT or Apple or Microsoft ready to post earnings that exceed expectations? Of course not. The basic economy is still in the tank.
What does that mean for stocks? We haven't seen the bottom yet, although we are close. When you go back in, go slowly and start with Johnson and Johnson, Kellogs, and the like. Nice defensive stocks. There are some values out there, but you have to search for them. Don't just buy a company because it has been beaten down 60 points in the last two months. Not every company comes back- and if you don't believe that we can sell you some Freddy Mac or Merrill Lynch stock if you like.
And finally there is some more action North of Border regarding Judge Ana Gardiner. The Sun Sentinel finally had an article about the Judge and her dinner companions (like the ASA who was trying a murder case before her) but here is Bob Norman's take on why it took the Sun Sentinel so long to even cover everyone's favorite dinner companion in Broward.
The Broward Blog also has the opinion of the Florida Supreme Court denying cert in the Pedro Dijols matter. Remember, in Broward a vote for Dijols is a vote for Obama...or wait...a vote for Dijols is a vote for Bobber...or is it Levey? Or Cohen. Or Levey-Cohen. Or is Palin saying vote for McCain to elect Dijols? Anyway, in Broward just vote.
See You In Court.
PS. We removed the side content mostly because people complained it bled into the text. We suggest you adjust your text size, but in any event, it is gone.