Hello Bill. Yes, investors poured another 12 bill. into the funds last week. I believe this was the number. Anyhow, it was supposed to be a great deal of money. And yes, the houses are not investing it or maybe they are propping things up in which they are down. Who knows anymore what the heck they are doing. This one analyst from a banking house was on this morning and said that the FED would raise another 4 or 5 times. If they do not, authorities better check those fud guys out. Big fat chance of that happening!!If those funds and houses are not investing the money that is coming in, I don't understand why people don't invest their money themselves into stocks. That would put a stop to all this nonsense. The everyday retail investor can only do so much. Unfortunately, a lot of the pension money and the like cannot be invested on your own. You can only say in what kind of vehicle you want to invest in.
Someone said it's 1929 all over again. Give me a break. Things looked a bit diff. back then. Margin requirements were only 10%. The only thing is the same is that the interest rates were raised back then also. And we have already found out that margin by the retail investor was really not that high. That was a lot of fud also. Yes, there was more margin in the end but a lot of those margin investors did meet their margin calls with money.
Now that we broke through the April lows we will hear a lot from the TA guys again. I guess we have to go up, go down again, go up again and make a bottom. Brother. It is looking a lot like a casino now. Nothing is really save. Something a bit funny going on.
Yes. We have troops everywhere draining our tax dollars.
And I could say some more about this China WTO deal but I think I said enough. I got some email from my Congress people and I gave them a piece of my mind. That's all anyone can do.
Yes. I went through 1987 also. That was a piece of cake compared to now. The stock market seems more like a gambling place every day now.
Did you see the guy on CNBC last Friday who wrote the book, the trillionaire next door or something like that. I think the gist of the whole thing was that long term investing is out and day trading is in. This morning one analyst said we should not listen too much to the financial news media, including TV. Their time horizon for stocks are now only 2 to 3 months and he thought that things would be looking alright again by the beginning of the new year. Some kind of encouragement THAT is. And you are right. There is never one bit of bashing when it comes to GE, and when was the last time you heard about their PE?
On Stock Talk on CNBC this morning the guest, Courtney Smith, liked most the internet stocks that were called in but still thought they were a bit too high, including JDSU. And this after a lot of those stocks have been down already about 80%.
Well. I typed long enough for the DOW and the NAZ to go below 200 again.
BTW. Last Friday someone said that Monday should see a deep decline and then we should be heading up again. Let's see if it comes true.
Things looked pretty good this morning, everything was up and then Maria B. came on from the floor and everything went down hill. Maybe we should blame her for this down draft. It's just as good as anything. gg.
Sonny |
