Billie Jean if you’re out there, I love you…

“Those who cannot remember the past will spend a lot of time looking for their cars in mall parking lots.”  – Jay Trachman

Good morning and welcome back to the world’s biggest shopping mall.  Make sure you’ve got your wallet in your front pocket.

The markets are down a bit after the open here.  Some nice orderly softness and breath-catching for the broader markets after this big recent run-up is probably a positive for this market.  The bears need a chance to re-load their shorts after squeezing themselves out recently and the weakhanded bulls who bought the last couple days could use a shakeout.   The day is young and an intraday swing or two both higher and lower wouldn’t shock me.

And how about a little bit of newsflow update on our favorite and biggest short, the latest scapegoat of the ongoing bankster/mortgage-fraud debacle in this country:

AHMSI sues LPS and DocX over ‘surrogate’ signing scandal Lender Processing Services Inc. (LPS: 16.80 +3.77%) and its DocX affiliate caused American Home Mortgage Servicing Inc. to lose millions from the surrogate signing of mortgage documents, a lawsuit filed Tuesday contends

Lender Processing Services Stock Hits New 52-Week Low (LPS Give her a call and let her know that you’ll soon have a need to move back home….that is, if it hasn’t been wrongfully foreclosed on. Reply. Eugene Villarreal says: August 25, 2011 at 8:39 PM. LPS made a lot of money. Maybe I’ve still got the puts I bought on this thing and some of the original common stock short…but I’d still love to see this thing rally back close to $20 or so where I’d build this short position up. —

As for trading so far today, I’m continuing to handsit here and not force things.  Did  a lot of buying, scaling, nibbling and some short covering while the markets were much lower than they are now, and the positioning I’ve got now, with lots of calls that are kicking in on this rally, some core common stock (though at some point, I plan on doing a little more scaling into some of my smallest positions down at the bottom of my weekly holdings list (see: Latest positions and some trout to catch…) but no rush.And a classic movie mall scene to finish the post:News Announcer: [to boy] Excuse me young man, can you tell us what happened here today?
Interview Boy: Well these men were chasing this girl, and all of a sudden, she splashed through the fountain, and wrecked this man down the escalator.
News Announcer: [to girl] What do you think of this Billie Jean character?
Interview Girl: She’s a rebel, and uh… I’m gonna personally… I think they’re picking on her because she’s a girl, and I think that’s disgusting.
News Announcer: Well there you have a woman’s perspective…
Interview Teen: I thought it was awesome, this guy was chasing Billie Jean up the stairs, she turned around and kicked him in the nuts and kept on running, I thought it was hilarious. Billie Jean if you’re out there, I love you!