Economic idiots, the markets and opening thoughts

Good morning and welcome back to the hotel, where you better remember to check out in time.

I just ran into Christina Romer, former chief economist for the latest Republican/Democrat Regime puppet president, who used to come on my show. She remembered me and that made me happy if for no other reason than the fact that I used to give her such a hard time for not seeing that the only thing that the government can do to help America’s economy is ENFORCE THE LAW.

I just heard her give some rambling speech about how the problems with our economy and with unemployment and the lack of investment from corporate America is all about…..lack of demand. I walked out by the time she got to her explanation of how more incentives and government largesse for corporate partners of the government, like GE and News Corp and JPMorgan and those guys….she was propagandizing for her cronies even after the last three years has proven wrong EVERYTHING she and her Republican/Democrat Socialist idiots have told us.


Anyway, as for trading and the markets today, I’m not pulling any triggers just yet. I plan to continue using strength like today’s to buy some more puts and I might finally take some more profits, including perhaps buying back those AAPL puts I shorted at $20 which are now closer to $5 each. 75% on a short-term, short options trade over a two week period is probably going to be hard to match in the near-term, at least on those puts. I’ve made $15 on them and there’s only $5 left to be made.

It’s been a helluva a year for us and let’s not get greedy or scared because those two feelings, more than anything else, is what can ruin a great trader.