Vacation May 1, 2008 Any of you who read yesterday's post have probably gathered that I got blown out of my ill-advised flop to the short side on the S&P. Such is the way markets work at times. A trader can have the best laid plans for one story, then... More... Recent News... (Actually, not-so-recent, but as I add new articles, the old stuff will disappear) Bernanke Urges Action to Slow Jump in U.S. Home Foreclosures - Bloomberg These clowns running the central bank are so simple-minded, economically speaking, it's amazing the country is still holding together. Sell in May and Go Away: Fact or Fallacy? - SafeHaven Very good question considering the fact the S&P is right up against its downtrend line. Putin Puts Medvedev in Dilemma With 13% Inflation - Bloomberg Russia subsidizes the profits of its oil companies by keeping the ruble artificially weak, but what good does that do if the currency is losing value at a 13% annual clip? Chidambaram Says India May Extend Futures Ban to Ease Inflation - Bloomberg Do they really believe ceasing futures trading will stop price from going to where it needs to go? Bair Proposal Seeks Government Loans To Aid Homeowners - WSJ ($) Socializing risk is called insurance. Socializing the consequences of risk ex post facto is called socialism. Bad, bad news. U.S. Plans to Resurrect One-Year Bills as Borrowing Needs Rise - Bloomberg Yet another sign of trouble to be ignored by the equity markets. Citigroup Increases Size of Stock Offering to $4.5 Billion - Bloomberg Bailout by dilution. Rate Cut Would `Do More Damage Than Good,' Gross Says - Bloomberg Wasn't this the same guy whining for the Fed to make emergency cuts last year? More News...

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