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What a fucking crock. This bailout has been upped to $850 billion from $700 billion. In the beginning I was for a bailout, now, I don’t want to see this bill pass. An example of what was included in this bill, “Exemption from excise tax for certain wooden arrows designed for use by children.”
Don’t believe it? Check the text yourself and search for “arrow”.

Yeh I’ve heard it all, that the government will make money on the deal, the world will end, and credit will dry up. Well, now I’m remembering about Iraq and everything else that was rushed upon the public while trusted officials were conned into anything and everything. Take a few more days, let the credit dry up for a day or two, let the companies who fucked up go under, like they should and will do anyways. Let the markets drop. All of this will recover and we will clean the slate and come up with new legislation that is something better than this crap. Everyone is worried about the citizens who will lose their credit lines, but this bill is frigging extending it.

Today at the close I wanted to lay on a heavy short position, but was too afraid to bet during this two day circus. I will wait till eod Friday to execute a long position particularly if we selloff (which is what I think will/should happen). Where the fuck is this market? Where is the panic? Yesterday’s 500 pt bounce made the 777 point drop look like it never happened. However, I understand that vix and vxn have done their thing and price is all that matters. If I see things turn up, I’ll take it and be quick. We have not marked enough time to create a true bottom and true new trend. I’m thinking this will just be a counter trend rally until proven otherwise.

I don’t normally comment on this crap, and I’m not qualified to do so, but I don’t care. When I see wooden toy arrows exempt from tax put into a bill in a time of national crisis, it makes me think how serious this needs to pass. My tin foil hat side says that this ridiculousness was included so that the bill will not pass thus creating a coordinated and planned market crash. They can act like they are trying to do everything possible, but in the end, they want to clear the board. I didn’t even get into the tax deductions for NASCAR! Are you fucking kidding me?!

PS I stayed at a Holiday Inn Express last night.

Bought BWLD and got long the US dollar today. Flight to safety was happening today. Gold and US dollar continue to move in tandem.

Stocks I’ve mentioned here before they got any attention elsewhere are rocking: FLIR, BWLD, EZPW (pulled back today), QCOR. Do a search on any of these names to see when I posted about them. I want to get some FLIR because I like that chart the best.

I also want to remind anyone who has a boner for shorting. Carter Worth tonight ripped the words out of my mouth tonight on Fast Money. I said this elsewhere, not here, several days ago. Like you care. What he said was, in my own words, “The bad guys are gone. Bear Sterns, Wachovia, Merril Lynch, Lehman Brothers, IndyMac, Fannie Mae, Freddie Mac, AIG.” Who is left? They have taken the bad seeds out of the market, replaced them in the major market indexes with new companies. At the same time I want to catch the last final move down that I think is coming, I also have to be ready when this market decides to unload off its coiled spring.

As I finish off typing this up, my wife is watching, “Private Practice,” in the background and I notice they have written into the show that they didn’t refinance their jumbo loan and now they have a financial crisis on their hands too. Fuck em.

Yes, I’m tagging this post with “wooden arrows” and “arrow.”