STUFF

Dougie Kass getting a bit bearish on the markets after the rogue SOCGEN trader bottom in late January. Why he be bearish- Dougie gives us 10 reasons including:

Credit conditions are worsening;

The powers that be fail to address the housing depression;

Core inflation no longer remains well-anchored;

Profit margins are eroding;

The U.S. dollar is in a freefall;

There are threats on the political spectrum. The continued strength in Senator Obama's candidacy raises the increased possibility of higher tax rates for individuals and corporations;

And if your Bullish- latest SP Outlook issue with its TOP 10 Portfolio:

KO CVD CVS EBAY HOLX LH MTW MCD MSFT PG;

According so S&P, these stocks are well positioned for solid "risk adjusted" returns over the next 12 months. The portfolio was very good in 2007 with a 36.3% return v 5.5% for the SPX. 2008, not so great, through Feb 15, -13.3% v -7.8% for SPX.

And creeping while your sleeping- Crude +2.5% to $102.13 and the NDX- up a point while the DJIA/SPX are both lower by .7%. This NDX/SPX trade looking pretty pretty good on a reversion to the mean.