Pass The Freddie on the Left Hand Side...

In a big handoff to the next President, a bunch of putrid insiders (Bill Gross) and Henry Paulson have decided to bail out Frannie and Freddie. Here are a couple good overviews by The New York Times .

No guy or girl named Frannie Freddie has ever turned out OK. Last I checked, Frannie was 45 and single in every family. The unmarried AUNT.

Freddie is a mass murderer in your nightmares.

The market will act all joyful for the moment and the shortsellers will be torched, but no one knows if this STOPGAP will hold.

Odds are the center will hold as it always does, but if you look closely at the pricing action of leading stocks, the center is very close to giving.

Good timing on this bailout, but whose to say we will be so lucky next time. Next time could be this Friday for all I know or any of the yutz’s chirping this and every week on CNBC.

Continue to bide your time and keep an eye on emerging leadership. Still some Selected technology and Biotechs showing strength, but too few issues for me to make a stand of any kind.