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Morgie, Morgie, Morgie:

Someone has to burst your bubble of exuberance; I guess it is my turn.

One good day does not make a bull market, just like one bad day does not make a bear market. For all we know, this maybe just a dead cat bounce. We will only know for sure a few months from now.

I know that you want to believe this is the beginning of a new rally.
I know that you will boogie again, but a one-day rise does not make a turnaround. I would like to believe it too, but the last 12 months have left me skeptical.

Faith and patience will be rewarded, but it is still too early to be shining up your boogie shoes.

If you really want to turn the economy around, go buy something new, tell your friends to go buy something new, have your friends tell their friends to go buy something new because good times are coming. Economies are ruled by attitudes and perceptions not just by economic theories.

Let's see what the rumor-mill brings us tomorrow, since this rally started just after 2pm EST on no news,

As always,

The La Jolla Beach Bum

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