Gone Fishin'

The market took it on the chin today, and it appears we are in the "retest" phase of the November lows. Said retests are never fun, and usually cause more investors to capitulate as they can't take the pain. But this is how bottoms are made.

I continue to believe that investors, as a whole, are showing little patience with the huge fiscal and monetary stimulus programs. These things take time to have their desired effect on the economy. I suspect by late 2009 the market will begin moving higher as it anticipates renewed growth in 2010.

As for me, I am taking my daughter to Mexico tomorrow for a quick 'daddy & daughter' trip. I will try to do some blogging while I'm there, but those of you with 4 yr old kids know that they don't exactly give you much down time to get personal stuff done.

Trading comment: I added the emerging markets etf (EEV) as a hedge today.

long EEV