I Agree With You on Almost Everything...

As always, Floydian rants solicit commentary from our subscribers, as my job is to provoke and make you question everything. It's how you'll learn to read the market, and learn not to believe what is "told to you." Listening to the stories and lies (cell phones on bring down airplanes) is what creates our issues.

Level 3 subscriber AG from Colorado took my comments on the Holocaust, and how certain Muslims may want to rewrite history, and taught me well what I was trying to teach you. What AG teaches is how we as a people "selectively" are provided, or chose to remember or marginalize what we choose to not know. Read carefully, as this is exactly appropriate to the stock market, and how we have allowed ourselves to be manipulated:


"I just read your commentary. I agree with you on almost everything .The only thing that I could disagree with you on is that, I do see a hope for America now in Barack. The way will not be easy but I do feel very strongly he has been able to crystallize the ideals on which America was founded. We are not a perfect Union yet but at each time in which we meet extreme difficulty it is a chance to reaffirm ourselves, to raise above the forces of negativity within each of us and move little closer to a more perfect higher self. In this election Barack is not special because of his ethnicity, because he is the first "African American president." He is transformational because he started and successfully realized a movement based on social justice and a vision of equality for all people. It is in our times of greatest despair that we get to see the light that illuminates all of us from within. We saw it before in the time of our founding fathers, in the time of the civil war with Lincoln and in the time of JFK. I think we are seeing it now again in Obama. What makes him transformational is that he is no more or less the every one of us. His uniqueness comes from his commonness and his ability to fight for it.

In respect to the subscriber who wrote of the rewriting of history in regards to the holocaust, I have to agree that the only way we learn and developed as a society is to learn form the past and so the preservation of both the good and bad in our growth as a civilization must be recorded meticulously . But I pose the question, whose version of history should prevail? We in the west know of world history as seen though our eyes, we are taught in schools of the sacrifice of Christian lives during the crusades, yet have we ever looked at how many Muslims were killed during those religious wars? We don't really have to even go that far back. A few years ago every day we would see running on the bottom of the CNN news tape the death toll of American soldiers in IRAQ. What is amazing is that as we record the sacrifice of American lives in Iraq yet most Americans will not be able to tell you of the number of Iraqi lives that have been lost because our invasion. At least we have a history of the Jewish holocaust. What is so very sad is that over 1.2 million Iraqi people have died since our "liberation" and we do not even generally make this holocaust known let alone "attempt to erase it." Had Hitler won the war "history" would have only considered the atrocities of this monster as "collateral damage" in much the same way we have marginalized what we have done to the Iraqis. My point in the tirade is that before we point fingers perhaps we should try to make ourselves a better people and hold ourselves to the same standards we try to hold others to. If we truly want to grow as a nation and as individuals we have to first take a look at the face that stares back at us from the mirror and conquer our own demons first."

With this said, it's time to move on. Every hope and prayer I have is in Obama being able to transform, and lead, and pull us to one nation. There must not be red/blue states, or people, and the hate, anger, and divisiveness in our nation must end, or it will destroy us.
No economic news is good, and the market now "reacts" to a new President. We believe a bottom is occurring, at least for the short term, and that market volatility may continue, but the fear will slightly subside.
The rhetoric will slow, and actions will begin.

Our December puts were profitable to highs of 15.00, keeping our record almost spotless, and the Dow closed right near our Dow projection bottoms.
Although it may not occur today, it is likely now that the market will bottom. Watch for any upturn 100 points up that holds through close to see if we have upside potential. We'll hold our November calls a few more days on upturn, with two buys made.