November 21st Edition

Good Morning All,

By the look of overnight numbers in world markets and this morning's strong futures it would appear that I am not alone in thinking that yesterday's declines in stock prices were just plain silly. Yes I am aware of all the bad news and the problems that continue to beset the unaptly named "big three" auto companies, but I am also confident that a solution will be forthcoming and the result of these pending actions will be less onerous on the workforce, the companies and their suppliers than most are already discounting. I am not suggesting a buy on either GM or Ford here as there are so many less complicated giveaways too numerous to mention offered across the board. Time to act on the tax loss switches I mentioned in a previous letter as you can go back three years to recoup gains paid, and forward forever.

Yesterday's 700 point plus decline on the TSX does have a silver lining as it now means that 10 more days of such absurdity would take the market to zero and if anyone seriously thinks that is a likelihood, it is time to visit a gun shop.The oil and gas sector, once the darling of mutual and hedge fund investors seems to have discounted a complete abandonment of autumobiles and furnaces so either buy a wood lot or ignore the nonsense in favour of an energy ETF...or just PetroCanada.

The bottom may yet to be made and or tested but it is close enough to allow everyone to breathe again; and for the daring to move forward. The 1000 point back to back up days this letter predicted ten days ago should occur by next week.

I'm done....go Als Go