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Strategies & Market Trends : John Pitera's Market Laboratory
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From: nspolar12/4/2008 3:36:31 PM
3 Recommendations  Read Replies (3) of 33421
 
Buckle in tight and cince up chin straps.

We may need em here!

The PPT's around the world continue to work overtime, but I don't think they can do anything of real value here. It is happening in front of our eyes, and the end run should well be in progress. Could be DEEP as well. We need to wait until end of session today and maybe a for a few more days to comment more on that. In the meantime, ride er down.

Broken down and busted banks, bankrupt auto cos, bankrupt brokerage firms, layoffs by the thousands on a daily basis, people out of work and more people out of work, economic contraction that is still in the early innings, etc. That is what seems to lie dead ahead.

By the time all this is over, some years ahead, we of my generation may have something less but of similar consequence to The Great Depression, etched in our memories. The Great Depression without doubt was and remains etched in the memories of many of our parents.

The market on the other hand looks further ahead. Imo the end move down may be in progress. Monday started a leg down with a wham. As has been usual for sometime we then entered a long counter correction (relative to the Monday move down) that failed this morning. Mo later.

TF
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