I think the psychology of not wanting to miss a bounce is a factor , and everyone remembers those short covering rallies before but the wreckage is extensive
and will be lasting ...
You could see a bit of that covering happening today.
But with every new day , more economic bad
news enters into the picture ... this shake-up will
go on and on , till only a few survive , imo.
Japan is in tatters , Europe putting on a proud
face and the fallout of extended slowdown
and recovery in the US is a given to me.
People were hoping for a soft landing
and got a "reality check" instead .
Rightnow no-one knows how far this will go .
They're looking at Europe , Europe's looking at
us , Japan's fallen into the well ,
crying for help , and world destabilization
that can only follow a US economic decline is
inevitable.
Huge expenditures this country faces
within itself for schools , military , water /energy/transportation infrastructures ,
health-care etc etc
are only going to become more
overwhelming .
(They need to spend $1trillion on water infrastructures
alone in the next 10 yrs . )
And just think of all those charismatic political leaders
out there who are going to be
working things out for us ....<G>
Something very cathartic in this grim
performance of the US market...just a wee bit of
rearranging of priorities are in store, as technology
should be more than an endless fountain of
entertainment and the shits & giggles...
it got pumped up into .
*Just think , we spent a whole month in this country
just counting chads and dimples
for heavens sake !
Going to be at least a few months more of
"snakes & ladders" ahead ...and the real question
is who will survive .
Who needs to watch "Survivor" on the tube , when you
have the NASD. It can get alot worse . But if you are
trading both ways and protecting yourself by holding
very little...
CMVT is reporting tomorrow , going
to be very interesting as this company
has not missed earnings 28 x's consecutively.
;-)
mars
PS: But having said all that , Larry Kudlow former
Ronald Reagan economist is pumping the NASD to 10,000 and
the Dow at 30,000 in 10 years on the tube tonight...
talk about "Spin Doctors" <gg>
(that makes me want to short this market on any rise.) |
