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Excessive puts tells us most people think the markets are going down and excessive calls say most people are bullish. When either get out of whack to an extreme, look for whatever will cause the most pain. If everyone thinks the market is going down, you will most likely have a rally.

The pressures on the markets today are interest rates. Inflation must come down so interest rates are raised to slow down spending. A rule of thumb is Rates must be higher than inflation to stop it. At 8% inflation, look for interest rates to go up to at least 9% in order to stop inflation. That rate will most assuredly cause a recession. Try to imagine the Gubmint trying to pay bonds off at 8-9% on $32 trillion dollars. We will soon be paying $trillions in interest on the debt.

Al this most likely won't happen in months, but years. We will at least suffer for the next 2 years anyway even if the new congress does the right thing.

I would look at covered calls for my stocks and look to interest bearing accounts for cash. In another year or so your bank could be paying 6-7% on savings vs. 2%-3% today. Back in the Carter years I got paid 13% on savings and 15% on CD's. I only hope we don't go back there.

I would look at covered calls for my stocks and look to interest bearing accounts for cash.

Yeah, my (new) investment advisor (Fidelity is her "custodian") is pushing the same thing.

Back in the Carter years [...] I only hope we don't go back there.

Didn't you like Billy Beer?

Regards,