I spoke too soon. The markets DO make sense!

Check Naked Capitalism for an explanation for my change in opinion (sourcing Meredith Whitney and Nouriel Roubini).

The shorter explanation can be found here (for December 1/08, -679.95 pts in one day).

And remember way back when the markets didn’t make sense?  Like, say… Saturday?  Here’s what I posted then, also quoting from Naked Capitalism.

Too bad I neglected to reload my put options.  Oh well.  I think I’ll see another opportunity shortly.

I really see no good news coming for the next month or two, with the exception of a few temporarily-relieving bailouts that may be in the offing.  I am of the mindset that Black Friday shopping returns will turn out to be dismal upon second viewing as well.  (ADD: Oh, Naked Capitalism has some updates on Black Friday retail reports as well.  Comprehensive and with what I detect as a tint of pessimism, but never going overboard.  Naked Capitalism: The Shopping Mall of Economic News Blogs)

… and the cow goes moo