One year into the credit crisis, and one year after Cramer’s rant. I decided to take a look at what I was thinking in August of 2007?

On August 28, I said the following:

So you see Tom, I can’t be optimistic. There are too many crossed signals floating about. I will still be trading, but I feel caution is the order of the day. Though, who knows this is idle thinking and not relevant at all. Who knows maybe in a year we will all laugh about this “pot hole.”

Well caution was a good call, since we have slid quite a bit. What is funny is that at the time people said, “hey it is a buying opportunity.” (CRAMER the new “guru” included) Yet at the time I said, “stay away…”

From the way that people and traders are talking you are led to believe that point 1 is the truth and that in October the American Fed will cut the interest rate. I have a hard time trying to make the two ends meet, and don’t see it happening if the economy and corporations are doing well. Thus I wonder why catch a falling knife?

Though right now I am catching a falling knife, and that I find funny, since I am rather optimistic.

Right now my portfolio is bleeding, but I have taken profits in a few stocks to reinvest again. So on the whole I am not disappointed. Though the one call that is haunting me day and night is my GPS call. I regret that I started reinvesting with those stocks! Na ja next time I will know better.

What have been some of my better plays? Financial’s, industrials, and a few techs…

I am optimistic. Yes supposedly the world is collapsing, but I am optimistic. Some will point out that Europe spending is down and things will slow down. Though as one Bloomberg commentator said, “I would like to add that Germans are not shoppers…”  Sort of says it all.