I'm Dizzy

The moves these days are like cramming a month or a years worth of action into a single day. 15% to 20% up in a week, then down 10% yesterday and what do ya know, back up today.

Which way are we headed? I change my mind every ten minutes and it's crazy. I keep hearing more talking heads and it's about 50/50 right now so you can't even go with a contrarian decision. But one thing that has me thinking is that more and more are saying we have room to go down, which makes me want to play the opposite side.

As soon as "everyone" thinks something, it's time to go in the opposite direction. As soon as "everyone" like your mailman was buying houses to flip, you knew the end of that gravy train was running out of track.

The waves are a mess and there's debate as to what wave and subwave we're in right now.

I'm on the side of the fence that says we're still heading down to test the lows and then we'll rally big for a couple of months before the next big leg down.

I won't waste keystrokes rehashing anything. So much going on with the automakers, the plans Obama has, the bank bailouts, etc that there's no way to guess what will come next.

Bottom line, my retirement is still sitting on the sidelines. I can see a turnaround coming possibly on Friday and that may be when I put it back in for a little while.