I dunno, Victor.I have been fighting a war since November that I am slowly losing. I make good money on short term shorts and puts every week, but cover too soon, and my long investment positions get crushed everday. I have hung in knowing the fed can still save this from a global meltdown, but they seem disinterested, largely. I think we are within 20-30% of a bottom that should provide enormous returns over ten years,probably at a rate similar to late 94 up to late 97, if we pick the right ponies. Before this ends, we may see Mrk and Pfizer at pe's of 16-18, for example, and stuff like pwer at a pe of 6, and jdsu at a pe of 20.
We are acting like we go straight down, absorb all the bad news, and start to creep up and gather momentum many months or evn a year from now. This may be healthier, but we need to avoid an economic meltdown to match the market meltdown. |
