J+,
Well, its worth more tahn the rent, but I got 'ole Jan covered. It has traded 200 contracts at the high now, which makes me think a seller is closing out open contracts - open interest tonight will tell the story.
While the market could smoke out in the next week, I fear the Feds and international Govs will step in to try and slow any fall. Who knows if tehy can pull it off in the end, but tehy sure can do it for a week. Prior to the Oct fall I thought they would just stand aside and let the chips fall where tehy may, since the rise need a well deserved breather and rationality. But I was wrong.
My gal had about 40% YTD gains in stocks up to a few days ago. With the slight errosion, she feels like she is now losing lots of money. Tell her she is still up 35% and it goes over like a lead ballon! I fear the Feds are like minded.
BTW, I don't see many comments about how Boris Yeltsin's condition could throw another monkey wrench into the works. Where are all the financial resources going to come from to put a safety net under the world? It's all on the margin someone once coined.
J~ |
