Today Was The Start Of A Real Correction

Okay, so the market shattered into the close. And now we will see real blood. Not the pretend variety that has haunted us since August.

I don’t know why I decided two months ago to start edging long. It just sort of happened. If I were to be honest, waiting for a correction all spring and summer wore into my patience.

Here is the manifesto I laid out last November. It was supposed to guide my hand unwaveringly.

And then I wavered.

So now I find myself a little more than 80% long, when I was just 50% a few months shy of this. I’m still up for the year, but have had give back.

What to do, what to do?

My guess is we are long overdue a 10% correction, to test the faithful.

There have been many calls over the last five years for a return to growth. They have all been predominantly off the mark.

However, I am willing, finally, to put my own reputation on the line and say that we are within two quarters of actual jobs growth and, perhaps, a sustainable and well needed uptick in manufacturing and services.

It is possible that I am simply being biased here. However, in my own little bubble, I am beginning to see real signs of growth.

Michigan is coming out of a thirty year maelstrom of economic catastrophe. Around the Detroit area, I am seeing revitalization as I cannot remember when. At my own place of work, suddenly, without warning, I’m having competition for parking spots. High end consumer shops are opening selling luxury furniture. Buildings are sprouting up like daisies.

It’s quite possible this is simply a mirage, as I have said. What I’m seeing may be interfering with the big picture. But when Michigan can have positive developments, I think it bodes well for the rest of the country.

Look past the immediacy of the government shutdown and looming debt ceiling. On the horizon there are finally some clear skies. If we can get to the economic prosperity growth cycle, the chatter about earnings misses and economic headwinds could all be left in the dust.

The 9th floor is in a state of disarray; papers litter the floor and counterspace and every other surface is covered in ash from spent pipe tobacco. The decanter across the room on the shelf is three quarters empty space, that seems to almost mock the amber contents of Scotch surpressed below it.

And Cain Hammond Thaler is yelling out his window like an institutionalized man.

My account is firmly bleeding out now. And I would love to thank the good fools in the Tea Party as none of this would be possible if they hadn’t decided to make pretend that they’re brilliant strategists.

Boehner is the weakest Speaker of the House we’ve had in at least five decades. Probably longer.

Shut this crap down already, you Ohioan jackass. You have the votes. You have plenty of Republicans willing to cross the aisle and side with the Democrats. You’ve had them literally this entire time.

We should be talking about how, in the face of the launch of the largest entitlement since World War 2, the damn thing didn’t even turn on. Instead, we’re talking about how John Boehner likes to kill kids with cancer.

Fuck yourself, and hold the damn vote.

CLP shares are now delisted, exchanged for a stake in MAA. The blood sucking law firms, looking to elbow their way into ill gotten gains, were defeated by the valiant.

The company rallied more than 2% today.

I ended the day green, barely.

Alright, evidently there will be a shutdown, to my dismay.

You have to be kidding me. These morons in the Tea Party just cannot stop tripping over their own feet. This should be about as clear cut as it gets.

A massive, convoluted enrollment process is being rolled out this morning. It should easily be the ultimate anticlimactic event. First time entrees are to be greeted with what I am told are a 3-5 page document of legal gibberish.

How hard is this?

Move. Out. Of. The. Way.

Ugh, I’m done with this lot. Thank God we have Rick Snyder here in Michigan, and not these Michele Bachmann types. It’s hard enough dealing with enemy fire without having klutzy allies tripping and spraying friendly fire everywhere all the time.

Any dip that results from this is a buying opportunity. But wait until panic hits. Raise cash if you’re overleveraged.

Out all of the hedge; it was a nice bounce.

No more games in the oil sphere for a while.