After todays trading, all bets are off until the situation...

After todays trading, all bets are off until the situation becomes clearer. There should be plenty of relative value trading opportunities but I am not sure where I should set the ratios. Usually in this situation the gap narrows but todays quotes do not reflect this. Tomorrow may be different. I was out of touch most of the day and luckily cancelled all my buy orders before opening or I would have come home to some disappointing buys.

The opportunity should be there. There are advantages in a falling market. The tax problem becomes an asset as trades can be made with a net loss in dollar terms but an increase in overall holdings. Also in dollar terms is that the capital outlay is less.

Every cloud has a silver lining. The problem is that flying in a cloud means you are flying blind.