Maybe the Gorilla can shovel my driveway?

So, markets are hammered on the fear of a meltdown in Europe. Guess what? We are becoming them. All we need are union protest marches in Times Square or Pennsylvania Ave. Don’t worry, when the states start fucking with the union pensions and benefits because they are out of money, watch out.

In the meantime, Bernanke is kinda telling it like it is for a change. Hard to believe…But the truth usually hurts and the fact is the problems that hit in 2008 are still here–only delayed with about $2 trillion in “hard” dollars and $12 in “soft” dollars to cushion the blow. Notice whenever the market is weak we pundits trot out this fact? We do it because it is the 800lb. gorilla, ready to throw shit in our faces when we least expect it.

The market is on the defensive after tagging SPX 1112.42. Close, but no cigar to our target of 1120. The first downside line in the sand is at 1080, then at 1050. A test of the lower portion of the trading range could be a good thing if you are looking for the further definition of the lower portion of our trading range. A marginal break would be even better because it would get everyone scared and out. Watch for the spike in the VIX. So far it is stuck in complacency mode or telling us to get long this bruising sell off.

Yesterday Century Aluminum Company [[CENX]] was rocked–but only back to the middle of its trading range and to our average cost (11.50) without hitting my $10 stop. Don’t get me wrong–this is a shitty company and has been for years. But it is the de-facto trade for aluminum and the dollars’ effect on commodities. And some would call it cheap. My target is still 14.50–for now.

Goldman Sachs Group, Inc. [[GS]] remains the object of controversy and scorn because everyone in the world bought their shit. They are certainly not wholly responsible for the mess we’re in, but they are the only ones who have the money to cover some of it. We bought some on a break of 150 (149) and have set a super-tight 147 stop. That order is in, period. No fuckin around with this one. My target remains 170.

Oceaneering International [[OII]] is rocking the house. L-3 Communications Holdings, Inc. [[lll]] is consolidating. Kulicke and Soffa Industries Inc. [[KLIC]] is still a huge winner. Hudson City Bancorp, Inc. [[hcbk]] remains the nations best and most undervalued regional bank. And Telecom Corp of New Zealand (ADR) [[NZT]] should be bought every time it dips below 8.00. Current yield is 9% and safe…

I’m going out now to help the gorilla shake the snow off my bushes…