Read an excellent article on Allen Field House, comments section on great moments. This is one of the best. Watch Simien after the basket is made (players were jumping around in euphoria on the court)...the crowd noise as usual is amazing.

 

   

 

We're closing out the week with some interesting US economic data. 2 out of the 3 indicators were surprisingly strong, particularly retail growth. However, the market is incredibly greedy right now for an instant panacea to the financial market meltdown. That's completely irrational. Inflation will rise, the Fed will react. In the meantime, hold your breath as the investment banks start reporting Q4 earnings.

 

I decided to add to my options positions and bought more on the dip after the Fed 'disappointed' with the .25 cut. So far, down slightly or going sideways on most positions. Where I have the most momentum now is perhaps shorting General Motors--I predict they will be in the teens by next summer. They can't make enough revenue in sales to cover debt interest and any economic slow down can't be good for ugly, fuel ineffcient cars (with all respects to Bumblebee from Transformers).

 

Tempted to buy Amazon. It's held up very well in the volatility, should have a good Christmas season. Given all the crappy US weather, folks will ditch the trip to the mall and log on....

*Note all selections you see on the list at right are options calls with expiry in 2008 unless otherwise noted*

Many people ask me what Kansas is like...I think this picture captures it best. Taken in the Flint Hills 50km from my home town.

 

   

 

Visually arresting but massively destructive. My sister's area (Topeka) was lucky...just 12 hours of rain/ice and 1 day of power outages.