Hi VHF!

I am hoping we get a nice fake rally to start the week tomorrow, with short covering driving the markets higher for most of the day, and I will pounce on the short side late in the session if I get the chance. This concept that massively dilutive bailouts are somehow good for the dollar is a joke beyond comprehension. The only possible bullish case that could be made is that the collapse of the dollar has been postponed for now. This is somehow bullish?

Can anyone explain to me how all these 'loans' to sketchy financial institutions will ever be paid back? The sleazy handouts to prop up greedy institutions that were negligent (often fraudulent) in their business dealings, have all been refered to as loans. This is pure nonsense. None of this money will ever be repaid, and the losses on the 'colateral' that have been accepted in exchange will be bourne by the taxpayer. It is the crooks that have been bailed out, and the little guy that is getting screwed. Yet the retail schmucks will rejoice and celebrate the bounce in the markets tomorrow over this charade!

This is going to be yet another short term move in a long term bear market, so I will be looking for the chance to short the hell out of the financials if I get it. And I covered all of my positions last week and chose to sit on the sidelines because I fully expected some form of bailout would be completed, followed by a phony rally. It will be safe to go back in very soon. And the PMs will get a bounce right after the pros start selling into the rally tomorrow, leaving the retail losers holding the bag again, and the spec shorts in the metals high and dry.

cheers!

mike