US Economy Update: Rise of the Planet of the Apes…

US Economy Update: Rise of the Planet of the Apes…

If the markets had closed at 10am, the papers tomorrow would talk about Tuesday’s sell off continuing in the markets.

If the markets had closed at noon, the papers tomorrow would talk about Tuesday’s nice rebound in the markets.

If the markets had closed at 3pm, the papers tomorrow would talk about Tuesday’s intraday crash coming on top of yesterday’s crash.

But the markets closed at 4pm, so the papers tomorrow would talk about Tuesday’s huge spike rally in the markets.

In other words, folks, that is some crazy kind of action.  And frankly, those kind of intraday dislocations are not bullish for the very near term, though how this market trades for the near term with this kind of volatility will make everybody look like a genius or an idiot depending on what time the markets close each day.

Some of my favorite stocks are trading at nearly 50% off their recent prices and if we can get one more spike lower, I think it’ll be an opportunity to truly back up the truck.  As it is, I’ve gotten about as much cash deployed now as I did back the last time the markets were tanked — back in late June.

I’ll see you guys tomorrow, but before I go, how about a little levity.  Is that a colon or a semi-colon after the words “US Economy Update” in the tease for Charlie Rose’s most recent episode on Hulu below?

US Economy Update: Rise of the Planet of the Apes.  Now that’s a Charlie Rose I might actually watch!