Hi Bob and Chris,
This whole market has turned ugly - nothing to do with SBSE. Many are going to the sidelines due to terrorism fears. No one wants to be the last one holding a stock as the republican convention and election approaches. This will undoubtedly be George Bushes last and only term as average business professionals and investors alike watch their portfolios and net worths dwindle over the next three months. The liberal lie that "tax breaks for the 'wealthy' have little effect on economic recovery and growth" will become quite evident in the next three months as the "wealthy" cut spending (personal and business) and hiring out of necessity. Hey, I'm just one of the struggling "middle class" and I've cut spending since I cashed in (threw in the towel) my portfolio due to the break down in market technicals. This will be a short seller extravaganza.
Watch CNBC. I wonder if those weenies on CNBC are heavily short the market. Watch how they stir up fear in their reporting methods. They seem to get giddy with bad news. Those weenies might be profiting! Notice how concerned they were that people outside the terror target Prudential building were carefree and happily going about their daily lives. CNBC's second biggest weenie (IMO), Bill Griffeth (Bob Pisani is #1), just couldn't accept it and incessantly driveled wonderment and bewilderment as to the apparent lack of concern and security measures. I'm sure he'd prefer 50 tanks and the national guard out front to make a better impact.
The only thing that can save Bush's election chances is the destruction and/or capture of most Islamic militants, here and abroad, including Bin-Ladin, before the election. If not, Dow 7,000 and NASDAQ 1,200 by election day - and that's with no attacks here.
The terrorists and their indirect allies (mainly the U.S. media) may ultimately win, election-wise, without firing a shot.
For me, I'm going to read up on short strategies and get up the nerve one of these days.
But seriously, the S&P 500 had a major breakdown with the poor jobs report Friday which I believe is the push over the edge that gets the snowball rolling down hill.
VIX 50 by the convention??????
Buddy
nuttybuddy.net
(I got my own domain!)
DISCLAIMER: "All" comments above are purely conjecture and opinion on my behalf. I define a "weenie" as one who demonstrates victimized tendencies (like whining - or the appearance of, persistence on one question or subject, lack of a professional delivery, and/or unacceptance of the obvious) in their methods as I see them. IMO, there are some good reporters on CNBC. Taking the weenies off the air (not fire them) would create a more pleasurable viewing experience for me personally. |
