leh

Why It's Going to Be a Long Recession

paulk's cute contrarian sentiment argument is getting as old as Cramer's and CNBC's attempts at bottom-calling. Big picture-wise, this market hasn't turned anywhere but sideways for the past seven years.

As far as the economy goes, go talk to any middle income family trying to deal with spiraling food, fuel, education, and health care costs and ask what's left in their pockets at the end of the week to spend. Then talk to lower income folks in New England and you'll find they're even more strapped and wondering how they'll keep their houses warm this winter.

Life is not a technical rally, and we will not suddenly bounce out of this recession. The US market looks done to me for your average investor, and we're left with a handful of hedgies trying to jerk a day's pay out of every so-called rally, which is really just short-covering by these same short-term players.

Options Trader: Friday Outlook

Agree with GlobalAlpha that oil is just the last bubble to pop, and that the problems runs much deeper. All that "free" money we spent over the past 10 years is coming back to haunt us, and this is one "trade" that may take years to unwind...