-No clue why we’re seeing this set up this year, and seasonality says we’ll probably be DEAD WRONG, but we have to go with the BAM model because it shows a distinct “bear cluster” into the 12-17 through 12-21 period.  I have to admit that the set up defies seasonality trends (if not logic) but it’s undeniably bearish as we crunch our data and it therefore requires that we remain bearish as well.

-This is much different than any other financial problem in the history of financial problems because we now have larger leverage exposure, larger derivatives exposure and larger ego exposure than at any other time– which in turn means we’ll see more chaos finger-pointing and indecision as they attempt to uncover and track the mess that they created and exported.  If you think the USA is unpopular because of Iraq, just wait until we our trading partners figure out that we left that flaming bag of crap on their doorsteps.  Anyway, and we’ve been talking about this for many months now, we think the inevitable result of all of this will be a CREDIT BOTTLENECK the likes of which the world has ever seen.

Full report coming soon