The Lie That Will Kill Hedge Funds

The stock market will rally before it is finished and the Fed will act to save a Washington Mutual (WM Quote) and we will rally huge.

Let it play out. It's happening with Mach 5 velocity, so you won't have to wait too long. Some days stocks will rally because the pressure will look like it's over. Other days it will return. No one who did this strategy will survive.

But then we will thrive.

Sooner rather than later.

Random musings: WCI (WCI Quote), a Florida homebuilder in the epicenter of the turmoil, hit $6 yesterday. It turned down a $22-a-share bid a couple of months ago. Torublesome and worth watching for headline risk.