So THAT's what happened

I had trouble figuring out what drove the insane rally this morning after a bizarre day yesterday. Apparently the Fed can't let the market have a few bad hours without getting involved AGAIN.

Frankly, I don't like it. Fed decisions shouldn't control the market like they have recently. Earnings haven't been all that great. Inflation is a real issue for the everyday consumer (I'm sure the big boys on Wall Street have no idea how much a gallon of milk costs). Lower home values are taxing consumers. There really isn't a reason out there right now for things to move higher.

I just don't think the Fed can continue to prop this market up. Things have to return to equilibrium and I'm afraid that just might be the February lows. It's tempting to jump in when things are this wild. But I think it's a fools game right now until things get straightened out.

I highly recommend that you read Charles Kirk's blog every couple of hours. I think he is doing an excellent job of painting a realistic picture of what is happening right now. He may have been a bit conservative throughout the year, but when you're sitting on a million large you can do whatever the flip you want in my opinion.