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Strategies & Market Trends : Ask DrBob

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From: shadows	9/5/2008 4:21:27 AM
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Almost the whole summer rally from SnP lows of 1214 lost in less than 2 days!Pimco's Gross sees the risks,but has cry-baby answers to the problem.Behind those trading screens things are looking really ugly,as are the technicals.New lows for stocks by the first week of November perhaps-put it in the diary! Still targeting SnP 945 next year! Pleased to report that the Oil trade is now dramatically onside,as it should be of course with global demand falling off a cliff in the face of a world-wide recession.Just like the Nasdaq in 1999/2000 investors convinced themselves that the only way for the oil price was up.I nearly folded my tent up myself such was the pressure.Oil price next stop $93,then $80 and then $60-unless we have a neo-con war in the next year or two,in which case all bets would be off. Hope you are starting to feel better drbob?

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