You see when we get the kind of action that is endlessly linked to the oil futures or the copper futures or the price of natural gas we get a level of distortion that precludes rational analysis. So we sell Intel (INTC) when oil's down because that means China's not buying and therefore the world is slowing so personal computer sales will come down.

We short Caterpillar (CAT) when copper's in full supply because that means houses aren't being built and CAT can't make its numbers with a 400,000-a-year home build number.

Baltic Freight Index down a couple of days? Why not blow out of General Electric (GE), Union Pacific (UNP), FedEx (FDX) and Con-Way (CNW)?

Baltic Freight Index down a couple of days? Why not blow out of General Electric (GE), Union Pacific (UNP), FedEx (FDX) and Con-Way (CNW)?

Baltic Freight Index down a couple of days? Why not blow out of General Electric (GE), Union Pacific (UNP), FedEx (FDX) and Con-Way (CNW)?

Baltic Freight Index down a couple of days? Why not blow out of General Electric (GE), Union Pacific (UNP), FedEx (FDX) and Con-Way (CNW)?

We buy Procter & Gamble (PG) and PepsiCo (PEP) when the oil futures trade down because that means we are about to have a nasty recession, even when oil trades down a dollar!

We buy Procter & Gamble (PG) and PepsiCo (PEP) when the oil futures trade down because that means we are about to have a nasty recession, even when oil trades down a dollar!