Bolling: Nowhere to Run

"Is everything going to be OK, Dad?"

My son asks me this question on the ride back from the beach Sunday afternoon. While listening to Bloomberg radio for the entire two-hour drive yesterday, I had no idea he was paying attention to the commentator and expert guests. He is 10 years old, for heaven's sake. Why should he have to worry about our economic future?

Well, it wasn't easy trying to explain how we got where we are. And it wasn't easy trying to convince him that things will be OKafter hearing that European regulators are doing whatever they can to help avert a financial meltdown there. But I tried.

I explained that things will get uglier before they get better. But the sun does eventually shine after prolonged rain storms. And it will shine here as well. "America will be ok, buddy."

Nowhere to Hide

Here is the rub, however. You may have noticed that I have refrained from making any trading recommendations for the last few weeks. I have refrained from doing so on my daily television show appearances as well. There is a reason. I take this column and television very seriously. I know people read my column and watch me on TV for fresh ideas but now is not the time to take chances.

There are those who would have you buying and hoping for a bottom. I will not. There are those who would have you shorting stocks, ETFs or indices ... I will not. You see, when the markets are bad, everyone gets hurt. Bulls get beat up and bears get stopped out with losses. There are no hiding places.