Apparently bad news is good news, or at least by the end of the day the bad employment numbers had been forgotten and the market rallied 500+ points. I would like to give you a plausible explanation for this rally, but I cannot fathom the reason for it’s existence…it simply happened. There are some strange doings on the market these days, and while I am far from ready to join the conspiracy theorists, this rally has me absolutely baffled. Who in their right mind, given the extraordinarily pessimistic outlook for the future, could seriously consider buying equities at this point.

Now, one might argue that the time to buy is when the greatest pessimism exists, as this is the point where many recessions begin to rally, but there a wide chasms of doubt in our financial future, gaping holes in our financial system where no easy solutions exist….and yet people are buying stocks. I am perplexed. I didn’t trade today, as the volatility was beyond my risk tolerance.