E! Fed is going to have to keep pushing on the string here, imo. But I think that is what will happen. I'm very much concerned by the severity of this decline in the economy, though. Housing, and refinancing of housing, are what I expect to give us the first leg up here. Value stocks, especially small value stocks, look like bargains to me. (Check the play in ASVIX, MVALX, RYLPX, for evidence that this is already underway)
Energy -- baffling to me. I doubt California is going to let it's most important industries go down the tube, but who knows? Califorinia has just about prevented measures to deal with these problems over the years (especially from the supply side), and they don't appear prepared to bite the bullet on any fix now.... just palliative measures, while the utilities hemorage.
LSI: I was thinking the strength was due to the demise of Sega....leaving most of the field to PS II, and LSI being a major beneficiary..
Market looking weaker going into the close than I expected.... hope we get a better picture tomorrow (which I am still expecting at this point)
tso |
