Price...All That Matters

Today the Dow closed strongly at all-time highs. So did China.

Here are the major headlines:

UBS writes off everything but the hookers;

Citi is run by a drunk Prince in a smock and writes off everything as well;Foreclosures at record levels;

The US dollar is now worth less than a a dollar that has a moose and duck on it;

Homebuilder index down 60 plus percent;

Ebay writes off a few billion on Skype

I am glad I have been able to check my opinion at the door for the most part this year. I would be short like the rest of the ‘smart people’.

PS – Bill Fleckenstein is thankfully still bearish and calling for the 11th recession this year. Phew!