Do NOT believe the market will stay UP

Ahh, what a difference a day makes. The market rebound took us to tops of 10,908. Day traders on the Oct580Calls were profitable to 38% and up.

We continue to own a straddle, with an OTM put that should be a smaller position, and a call we hope to have strong upside on the signing of some diluted, connived, socialist bill that it is fully necessary to keep our banking alive....all based on supply side economics failing.

Three months ago Wachovia said they had 4 billion in bad debt on mortgages. When they bankrupt sold to Citi today they listed 40 billion.

These are the false facts that have lead us. We still have these false facts in our Federal Government, from false unemployment to deficits, and it will take several years for us to regulate ourselves out of the mess we have allowed to be created.

Calls have the upside potential of 52%, to market tops that may ease at 11,340 area. It is an anything goes market.

McCain's economic guru, Phil Gramm, rammed deregulation of financial services through Congress. They even named the bill after him.

Deregulation makes GREAT sense and is right IF GREED and structures are not in place to allow only certain people to win (Halliburton winning the bids for Iraq comes to mind). Do NOT forget this information while the false facts and partisan name calling continues.

Obama is not a perfect answer. Sarah and the Ruskies in Alaska is the perfect answer, for our own possible annihilation, if McCain were to die. We are right now doing two things:

1. Electing the best of the worst (Obama over McCain), or not.

2. Dealing with 8 years of supply side economics and debt building, the reverse of true Republicanism. These are NOT conservatives in any way.

When Bush was reelected four years ago he began work on privatizing social security.

McCain voted right with him.

Can you imagine what would be happening now if this occurred? The financial meltdown we have now is only partly "housing," and the supply side economics without regulation that have led the Republicans this past 8 years, and how McCain has voted, are the cause of our issues.

Remember the privatizing of social security as you vote next month.

"Republicans, who have won so many elections painting Democrats as socialists and pinkos, have now done so much irresponsible deregulating and deficit spending that they have to avoid fiscal Armageddon by turning America into a socialist, pinko society with nationalized financial institutions and financial czars accountable to no one and no law".

We are at a precipice, and even if it gets better, it may not last long. It depends on how we think in the next few years.

Now we have to fix what we have wrought. Any bill will only be the beginning.

Whenever two good people argue over principles, they are both right.

Most people, including McCain, that are Republicans call themselves conservative, and call Democrats Liberal. It so amuses me, as true Conservatives such as Dwight Eisenhower nor Barry Goldwater would recognize today's Republican Party. There is nothing conservative about recklessly and unjustifiably invading a sovereign nation, suspending habeas corpus, and amassing the large debt in U.S. history. This is what has occurred within the Bush administration, BEFORE the recent financial crisis that will cost us up to a trillion.

These are facts. McCain voted with this 90% of the time. Thusly it would appear evident he would continue to work in the same way that he has worked. What has occurred that would make him be different than how he has been, and how would he do this, let alone Sarah Palin if he were to die?

These are honest questions. Answer them first, before you consider Obama/Biden, as the key decisions revolve around the philosophies the Republican Party currently follow, which are by NO means conservative.

It is not understanding the above that has us in the situation we are in, which will worsen.

Do NOT believe the market will stay UP. Nothing we are doing even begins to solve the real problems, we are only solving the immediate illiquidity and inability to lend.