Well, we are rallying and what do you know, it feels good.

Stocks are up, commodities are down and every gas tank is full.

I wrote about this happening right before it started and now it is happening. No clairvoyance whatsoever, or even much in the way of smarts just a good memory of how these things work.

To repeat about how scripted this all has seemed to me; a yet to be fully quantified financial problem predicted by the yield curve, denial of the problem, rolling over of the market, fear that this time is different, eagerness to call the bottom too soon and some feel good rallies (I may take credit for the term feel good rally).

I've mentioned a few times about really trying to remember details of things like the emotions that people go through during these episodes, the market's behavior, the things that tend to work and so on. I think this sort of exercise goes a long way toward helping people keep their heads on straight when the market does turn down.

Long time readers will know my belief in planning ahead for a get defensive strategy but mental preparation along the lines of I have seen this before and this is what happened can be just as important.