This is a great thread. 3 scenarios -
1. Monday - more erosion, lower volume, Tuesday big volume, morning panic, intraday turnaround, rally from Wednesday.
2. Bargain hunters outweigh vacationing sellers Monday, trigger rally
3. Market gets so depressed that it ignores good earnings news and goes to Helena Handbasket, like April.
Greenspan raised interest rates - not because of oil prices, which hadn't risen much yet - but because of Philips-Curvers on the Fed who thought we were growing too fast and too many people were working. There is no inflation, there wasn't when he started to raise, and there isn't going to be - 1's and 0's don't require gasoline! Oil prices are headed downward.
Greenspan killed the market - and the economy - because we were having too much fun.
Now, as a result of Greenspan's successful assasination of the Naz, the surplus will be history.
Tax cut? Deficits, here we go again.
My sort-of-humble opinion.
Regards,
Jon |
