Me thinks that erasing a few Trillion off the global wealth scene just might have an effect on the economy, like maybe slow it down a bit. I know that I have scratched off in my need list things like that nifty G
7 and that Monet I always wanted. And my wife?Shopping, shopping, shopping. Any way we visit the land of the unknown. Again. Just pieces of paper. But today. It,s rally time. More early dumping. Then on that low TIC those usually nasty arbs will be ready to pounce on the shorts big time, as the set up is near perfect for an extremely hot reversal. VIX and VIXN are way up there, Nasdaq over-sold like not in a long, long time. Everybody is leaning tin one direction. So watch for a reversal in the NDX and follow the S&P futures. A good place to play-- SUNW, TXN, AA on the reversal. If today or tomorrow this ugly, ugly down-stroke doesn't end we could likely be facing a 1973,74 Bear. And I think all the powers know it. But is it stoppable ? The distance we spoke of between price and the 200 day moving average on the Nasdaq was huge, and the falling object, (price) was, is, really accelerating. But I think the money, will and the resolve of the big guys will prevail. Dr John Feisal |
