Its Just a Matter of Time

The big news this week was the debate over automakers aid. Thursday's Senate stale followed by the White House on Friday signalling it will come to the rescue after all by maybe using the TARP program.

Lets face it this industry and its political position will get bailed out. There is just to much at risk. It sure is a hot button though and expect to see fireworks flying once the details are ironed out.

There is a lot of pent up anger out there just waiting to be released.

In the meantime ongoing reports of layoffs, earnings misses, foreclosures and bankrupcies. There is blood in the streets and it is getting worse by the day.

Just a few more weeks before the changing of the guard at the White House. People wanted change. I just hope they have a lot of patience. This is one pair of shoes I wouldn't want to be walking a mile in.
As far as the markets are concerned, as expected we had a gap open on Monday, but no follow through. In fact the rest of the week saw selling just to end the week with things looking a lot like it did last weekend.

There are a lot of people out there saying that a bottom is in place now, but there is just as many not willing to put their money, (or what is left of their money) where there mouth is. The bulls and bears are circling each other with no winner yet. Without a trend in place we continue to play with only a small portion of our funds.

It looks like we may see some upside on Monday for those that want to test the waters again. Otherwise trading the hourlies.

Be careful.