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Non-Tech : The Woodshed
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To: blind-geezer who wrote (45877)10/8/2008 4:32:27 PM
From: TheSlowLane1 Recommendation  Read Replies (1) of 60914
 
Just lucky, I guess. If it's any consolation, Tom O'Brien just reiterated his contention that this market action is bottoming action and that as difficult as it is to sit through, that's what he sees. He believes that the commodities will lead the market up. If the HUI/XAU are any indication, he may just be right. I got some AUY today at 7.10.

Edit - Tom O. was talking too fast for me to get it all down, but some of the things that he is looking at which is indicating a bottom:

- volume
- price destruction
- bond market blowing up ($ will move back to equities)
- POG performance
- Fear at historical extreme
- Widespread talk of imminent depression

If it was just fear, that would not be sufficient, but the level of fear combined with the technicals make the case. We shall see. I need to seriously re-assess my PF composition if I ever get liquidity in my positions. I swore after the tech bubble burst that I would not repeat the same mistakes, but...guess I forgot.
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