There were zero new longs today as a final hour INSANE volatility session broke out in a once better efficient market. I mean honestly what the hell was that??? Anyways, it didn’t mess up to many of my daily charts, there just was not anything worth going long. This market has serious issues and a market that has as many problems as this one has is not going to produce five to ten stocks a night that WE USED TO GET IN BULL MARKETS (I know for some of you it is hard to remember, it has been so long). Markets like this give us only a few gems to even think of going long. ANCI was close enough to a “great long” in this market that I am hoping LPHI can at least do as well. LPHI is still very pretty and even today’s nutty stock market session didn’t impact the chart of LPHI or even any of my other 5 longs. So even though we do not have a lot to work with, we can be thankful that I do have at least five stocks that are moving up and are not collapsing. Hopefully, eventually this market can work on forming a bottom so that LPHI can take off and give us some big gains. LPHI definitely would not be the only great long that we would get if the market actually could get going but I tell you what if you don’t think the market is worried about the next President then you do not know market history too well. Markets have always had some difficult times before a new administration came to town before. But this time I think the market is paralyzed with uncertainty. This is creating some very volatile market sessions that are making it very hard for even professional daytraders to handle the volatility. This market is one rough entity right now and the smartest of all investors realize this and are heavily invested in cash. Only the most arrogant and ignorant FOOL would be heavily long here. If you are, you are being BIASED to the long side in a market that IS NOT REWARDING those that are biased longs. Being unbiased and going with the trend is the only smart thing to ever do and there is only one clear trend right now and it has been the same thing almost all year: that is a downtrend. Besides being in an overall downtrend, the market has been recently psychotic and intelligent investors DO NOT mess with psychotic markets that do not produce winning stocks. This is not a market that will produce winning stocks. You might want to review the 1980s and 1990s to remember how the good times used to look like because this decade has been very disappointing even though it has produced some good years. It is still nothing like the 80s and 90s markets. 2003 was good but one great year out of eight is not my idea of a “great time.” For now, I am dealing with the market like it is a mental ward patient and I am refusing to talk to this patient while it acts out and craps all over itself like the market is doing right now. Until the market can try to act like a normal functioning member of a once great capitalistic society, it is going to be a little while before we have anything to do with for sure situations in this market. Nothing is for sure in this market. If you were once a non-believer in cut losses, you shouldn’t be by now. Most perma-bulls that came on to the market in 2007 have been sliced and diced. A few liars that constantly called bottoms from November 2007 to now will tell you that they have not lost money but I have been around too long. I know if you tell me you are “long and strong boyeee” that you are really PRAYING for a rally so that you can gain back your losses. It is best to to avoid these mistakes by remembering that for right now CASH IS KING!!! Today’s last hour of market action should prove that I am right about this. Being right is what it is all about. That is how you make big money. Congratulations to all the Phillies fans out there in Philadelphia. It is about time that city won a dang title! Still it is amazing to think out of 126 years this was ONLY THEIR SECOND WORLD SERIES WIN. Crazy! Is the world about to end???? Nah! The Cubs still haven’t won in 100 years. So we are safe for another year. 
new long positions: none
none
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