This blog post originally appeared on RealMoney Silver on Jan. 9 at 7:42 a.m. EST.
Not so fast -- for the markets or for politics.
when it looked safe
to come out of the bunker, stocks reeled under the pressure of fresh news of economic weakness and increased financial stress. And the outlook for the 2008 Democratic presidential nomination, seemingly assured only 24 hours ago,
equally dramatically overnight.
Maybe there is
, as the Obama express seemed to go off track, too -- at least temporarily.
Meanwhile, the administration and the
lack a sense of urgency,
around while the U.S. economy burns. And it's not much better in Western Europe, as I have repeatedly
Marks & Spencer
after reporting weak holiday sales and issuing poor guidance for 2008.
My last blog post on The Edge for
yesterday highlighted the growing recessionary signs at
, which seemed to be the proximate course of the market's abrupt swoon lower yesterday afternoon. By contrast,
just raised its 2008 view.
Jim "El Capitan" Cramer is correct. The Federal Reserve and the administration really know nothing.
Be particularly skeptical with regard to those talking heads (strategists, investment managers and members of the fourth estate) that speak with bold authority and confidence as they "advise" us in the media. (That includes me!)
Find your own voice in this treacherous market. Trade/invest with smaller positions as volatility, as I
recently, is downright
hardest stock market to navigate ever
At the time of publication, Kass and/or his funds were short SuperValu and Walgreen, although holdings can change at any time.
Doug Kass is founder and president of Seabreeze Partners Management, Inc., and the general partner and investment manager of Seabreeze Partners Short LP and Seabreeze Partners Short Offshore Fund, Ltd.