<<However, I believe that for once, Luc and Myth and Heinz, etc... should be listened to. Im against my fellow Americans getting hurt by this crash.>>
I agree that U.S. investors by and large are ignorant of the risks poised by the equity markets at this point in time, and that Heinz (and even Luc, at this point) should be listened to. However, it is the nature of manias that most will continue to ignore the message even as they ridicule the messenger, right up to the point of collapse. In bear markets that begin with a crash-like event (ie, 1929-32), most of the damage is done not in the initial event, but in attempting to buy the dips. Timing the bottom is tricky, and not really worth the risk, IMO, at least untill we see signs that a "landing" of some sorts has actually occurred. So far, there is nothing of substance to suggest we've reached (or are even approaching) an economic trough.
Myth thinks that we are in a trading range (as far as the DJIA is concerned) between 9850 and 12,000 or so, and that crashes are, well, a Myth...<G>
I think at heart, Voltaire is still bullish; he's certainly not indicated any changes in his portfolio allocations. The post you linked is more indicative that he's (rightfully) frustrated and PO'd about the current cluster-shag in the presidential elections, as are many of us.
Tomorrow and Friday will be pivotal days in the markets. We're near key support on the 'Dung and the NDX, as well as many tech darlings. In the past we've been "miraculously" saved at these points, but has the bubble machine finally run out of gas? We'll know soon enough.. |
