My opinion? This is more proof it is time to make easy money shorting the stock market. The only reason GDP hasn’t gone negative is that the country is running on fumes, and credit card borrowing.

The optimists (recession deniers) drove the S&P500 back up to 1420. OK, now all the smart people need do is short the market, and WAIT, wait until the economic data bursts the bubble of denial. That will send the markets tumbling down.

The big, nasty recession has started, and it will take the markets south. They fell 1.8% today. My puts are looking good, and I’m buying more.