Smear One

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A Sloper asked me a few days ago if it bothered me to have to wake up so early (I got up at 4:45 this morning). After all, the markets open at 6:30 a.m. My response was basically – – are you kidding me? I love my time zone! I get to be totally by myself for a few hours – just me and my dogs – and then my official work day is done at 1 in the afternoon!

So, greetings from pitch-dark Palo Alto where I’ll toss off a quick post about this honey, which I’ve mentioned countless times here, particularly recently:

Pier One is one of those Slope favorites, kind of like Abercrombie & Fitch (AKA “skank”). What’s especially exciting to me is that its topping pattern is gargantuan, and I see 2007/2008 coming back in spades. Hopefully this disease will spread to every other financial instrument as well, although it sure is taking its sweet time about it.

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