You'll Notice

You'll notice that the worldwide debt crises don't seem to be behind us. That's what you'd expect if there had been a massive worldwide credit bubble that, far from being resolved, was only starting to be unwound.

As I mentioned, I covered substantial amounts of shorts on Friday in the expectation that there would be a bailout/bounce tomorrow. That looks to be the case - S&P futures are up about 30 points right now.

I've placed orders to buy MGM and WGO puts that will get filled if there is a bounce in those names tomorrow.