An early morning hesitancy, on low volume, allowed traders to continue to enter on our open Dec350P with lows of 2.90, to high sales at 5.90. We'll continue to list this position for this mornings trading, as both an open signal and a new buy, and will yet again NOT buy a call, despite what could be an exhaustive gap up.
Unemployment comes out today, and the truth is now finally being told. True unemployment numbers, however, just add another 10% to what we hear today, as this covers all the unemployed now off unemployment benefits, and on welfare, conveniently left off unemployment numbers since Bush has been King.
As we all know, the CEO's from the "small 3" in Detroit are in Washington begging for money. There is no real option , and the money will be given, or three states (Indiana, Michigan, and Ohio) could go bankrupt.
When relief is provided, it is not a 50/50 throw of the dice on how the market may react. In the past moves that "gave" typically provide a euphoric upside; this may not occur this time, as reality is very clear.
Is anyone else, besides old cynical Floyd, a bit curious how this all "fell apart" in three short months, and gas is now 1.36 a gallon in Missouri?
Anyone else suspicious? How can something unravel so quickly? And as it is, who hid the situation from us? Question authority.
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Imagine if there really is no structure, and that there is only process. This is what actually is. It is our need as humans, as the thinkers we are, to define and we create the structure around the needs we have to define.
As you decide, therefore, that something is real, be wise enough to recognize that it is our by our definition that we see real. A rock is only real, as we know it. In another world the rock may not be even dense. There may be no definition of dense.
As we trade we must understand that the variables are always there, but there is little of constant. Each false fact we are fed leads us to our interpretation. As an example, Lancet reports the civilian casualty death in Iraq as beween 600,000 and 1.2 million. But ask 87% of all Americans and they will tell you our losses under 4000 people. We do not think here of the obvious because the obvious is not clear in our perspective.
Every week a pool guy, Bill, comes to our home in South Florida and takes care of the pool. He's been our "guy" for 16 years, and we pay him $120.00 a month, and lots of tips. He's 50, has a 24 year son working for him, his wife is a schoolteacher, and he owns a home and two trucks for his work. He is a middle class guy with a "route." He works hard, and is friendly to his clients. He keeps them.
I saw him this week and he explained to me that the middle class went away in the last 8 years, and the only jobs were at McDonald's or construction, and now the home crisis had destroyed his business, and the economy had people "shaving him on price" by the day.
His gross profits dropped by 31% in 2008, and he predicts business off by up to 50% next year.
He sold part of his business last year (active clients in one area) and used the money to pay off his one credit card, pay down his trucks in payment, and put more money in his Self Employed 401k, only to watch it go down 40% this year.
He wants to know who he can blame? And who will do something. He has told me for 8 years that they should impeach Bush for his lies, and finally, this week, he said "he was heard."
I believe he is right, and that true change could come. To do this, however, we as a public must NOT be manipulated again, not accept false facts, and pay ourselves for what we have done. Sadly, with a 7.6 billion price tag in new spending alone, we all are.
We must quit taking care of ourselves, and take care of one another.
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