Not much is going on.
Yesterday was Veterans Day. I sent some large donations to the USO, Operation Home Front and the "Fisher House" in Dayton, Ohio. Those are fine organizations that do a lot for servicemen and their families.
Asia was down big, but futures are up and Europe is up in early trading.
Barron's reported some large bearish sentiment numbers plus increased short interest. With so much money in beefer trading funds and no uptick rule, I think the shorts can have their evil way with Ms. Market at will. I noticed in the summer how large short interest eventually overwhelmed the markets. I think that might have happened again in early October. With trillions are their disposal, I suppose this is no surprise. We'll have to live with the increased volatility, unfortunately, since the SEC is in the pockets of the Street and the beefers.
What to do? Be even more patient in buying long term positions. I think we can expect beefer rotations and bear raids to create great buy points. So one should spread out buys even more and really wait for a bear raid to load up.
Dubai makes a huge aircraft purchase. Hmmm no slowdown there.
That big oil find in Brazil in the deep water shows that one should stick to deep water drillers for oil service buys. Long term, that's where the oil is and they have the expertise to get it out. I have RIG, DO, GSF and NE; RIG and GSF are merging soon, by the way.
These oil finds might replace lost production from declining fields over the years - they do take many years to get to production.
For US oil companies with serious deep water efforts in the Gulf of Mexico, I have CVX and DVN. Both have made large finds and have many leases.
The super SIV seems to have legs and is going forward. I would like to buy more C if I can get a good price. Plus, I want more BAC, WB and JPM. But I'm not hurry and will not buy unless I get a really good price as I already have a lot. Calling my original plans for these 100%, I recently doubled my plans to go to 200% and now have about 150%. So I have a good bit more that I want to buy.