Buy Em

I don’t trade the market anymore.  I can’t make any sort of consistent money doing it.  I watch it though.  Of course, watching it over this past month hasn’t been pretty.  Yesterday was really ugly.

But, it can’t go to zero.

I don’t think we are headed to a recession.  I think corporate America is in pretty good shape with good balance sheets.  I don’t see layoffs.  Unemployment is still low, and below what we used to think “frictional unemployment” was.

There are a lot of wild cards but I think the consternation over a government shutdown is way overdone.  The government shuts down a lot.  Heck, if they get a few inches of snow in DC it will shut down.  The noise is way above the signal.

Mattis resigning is another matter and to me it’s a bit worrisome.  I would like to hear two people on opposite sides of the issue; Lindsay Graham and Rand Paul, have a full on debate about why they disagree.  That would be interesting.  I’d love to see them do it on the Senate floor-especially since they are part of the same party.  Might be enlightening to people.

There are some wild cards for sure.  Trump certainly isn’t happy with the Fed chair after their raise of interest rates.  Firing him or a lot of negative talk/tweets about him would not be helpful.  I don’t support the tariffs and wish they’d go away but that strategy doesn’t seem to be ending anytime soon.

These melt downs gain momentum until they don’t.  As my friends say, bottom pickers become cotton pickers ad that is certainly true but it seems like the break is a bit overdone.  Maybe time to sell some puts.  Follow my friend Greg Harmon and see what he says.