Where in the hell is Beeks?

If you've been following the soaring stock market, you might have been wondering, as I have, when Wall Street will align with the realities of Main Street. Just yesterday, my wife came home with a shopping bag full of goodies from a store on Fifth Avenue that was going out of business. Shoppers picked over the deeply discounted merchandise like vultures over carrion. Once this store goes, what enterprise will take over the lease? How many manicure and pedicure boutiques will it take to pick up the slack left by the companies that have gone under? I don't think there will be any fingernails left to shape and buff. They'll all have been chewed down to the cuticle.

Any who, I didn't like the way the stock market looked over the past couple days so I closed some long positions this morning and went short. This was a fortuitous move. Had I had my doctor's appointment today instead of yesterday, I might still have been long when the market fell off a cliff. If you look at the chart, it looks just like the trajectory of a rock pushed off a precipice: straight down. That's program trading for you.

The market closed right around where I thought it would. I suppose the market might find support and continue the upward trend, or maybe not. Buckle up, we're in for a bumpy ride.