Tim, here is mine:
1. Fridays action was panic buying, both long and short. Stocks were under valued and investors feared missing the train, or if short, feared losing their shirts.
2. Abbey Cohen/Goldman, seems to me like they are trying to calm the markets. The market has no direction, mainly because of Internet and discount trading. Basically your trades cost nothing, gone are the days when you sold 30,000 worth of stock and the commission was over 1,000 dollars. Those days your broker would soothe you with calm reassurance, telling you what they are buying and you would think twice about a buy or sell. So Abbey Cohen/Goldman are the calm soothing voice the market needs.
3. Middle East. In my opinion, there will never be peace in the middle east. This fighting will subside, like it always does, unfortunately they will never see eye to eye and things will flair up again in the future.
4. 1987, I don't think so Tim.
5. Recession, I don't think so Tim.
This is my 10,000th post on SI, and I would like to dedicate it to all the short sellers. We need you, you are the contrarian voice a long greedy investor needs, and we also need you when you are way too short on a great play and you have to cover your positions <g> |
