Am I in denial, or is this market in denial? Here we go again -- an unlikely party in stocks on a day where the Fed raises interest rates, the true impact of this move being hidden somewhere in either last week's trading or next week's -- but certainly not in Tuesday's price action itself. The market is turning increasingly perverse and silly.

Today, we have but one piece of advice for people who felt so compelled to buy stocks on such a day: go back and read this one article by Yale economist Robert Shiller that appeared in the Washington Post last Saturday. Despite Shiller's perma-bear leanings, he makes a great point that bear markets don't ring a bell and tell people when to take their money off the table. Unfortunately, with price action like we had on Monday and Tuesday, our society is now going to learn this the hard way.

Meanwhile, there is a new article entitled "Cyclical Commodity Turns" posted for subscribers only here.

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Sand Spring Advisors provides information and analysis from sources and using methods it believes reliable, but cannot accept responsibility for any trading losses that may be incurred as a result of our analysis. Individuals should consult with their broker and personal financial advisors before engaging in any trading activities, and should always trade at a position size level well within their financial condition. Principals of Sand Spring Advisors may carry positions in securities or futures discussed, but as a matter of policy will always so disclose this if it is the case, and will specifically not trade in any described security or futures for a period 5 business days prior to or subsequent to a commentary being released on a given security or futures.