Tuesday, May 20, 2008

Sinking Stocks -- Dow Off 200!

With a day this bad (the Dow is down over 200 points thus far with no end in sight), the Fed is going to think it must step in and interfere in the markets again. The trouble is that inflation is heating up even faster, with today's PPI showing inflation rising year over year. With crude oil at $129.50 and climbing, what is a central banker to do? Needless to say, I'm short the market today! Surprisingly, I was long yesterday! What a difference a day makes!