TOM
well said my friend....after listening to Dr. Ed Yardeni, and reading his stie a bit...after the LTCM debacle, and the coming inevitable recession, i would wager these markets have a lot more room to the downside in the near future...
It boggles my mind, that Alan G. orchestrated a rescue of this fund..It makes me believe that if he did not pull this together, stock, bond and financial markets could have crashed!!!!
now the question is how many other hedge funds are in dire straits right now, and if the markets start to fall further below supports, what will happen to the little guy, and his 401K's & mutual funds....
really this situation could have much larger consequences when you add, recession & Y2K, problems..Hey Tom, all this is going to happen next year!!!!!!!!! Christ!! this is no time for any long term investments, and probably people should seriously think about total liquidation to CASH!!!!!including their hard core long term positions...
why not???, what the heck do we have to lose??? Cash will be, and always was KING!!!!!
my game plan is to sell heavily into coming strength...In my mind, my caution has been there for months...I was always looking for an excuse for a rally, because most people like to "bet right"...
PFE will be my first put play next week...I think it could run to maybe 100, making another lower top, and will come full cycle down to 80ish IMO...
there will be a host of others as well...in the scheme of things, the outlook on down the road is one of dangerous fast markets, with incredible powerful movements, the likes of which I've never seen before...NEVER...
Everyone out there should take double extra precautions in any trade they make...we certainly can't feel relaxed, that's for damn sure...
our only "REAL" protection is Greenspan and interest rates...and then who the hell knows even if they will be of any help...when serious panic selling begins, the outcry will be "Get Me Out!!!" NO MATTER WHAT!!!!! I saw it and lived it in 1987...TOM this is NOT 87....
enjoyed Bev's link & your astute insightful remarks...
have a good weekend too.... |
