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The Markets, The Economy

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November 19, 2007 – Comments (6)

 

 

6 Comments – Post Your Own

#1) On November 19, 2007 at 11:11 AM, GS751 (27.55) wrote:

gotta love it.  This post made my morning.

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#2) On November 19, 2007 at 12:20 PM, edwjm (99.87) wrote:

I could not have said it better!  Sometimes a picture is worth 1000 words.

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#3) On November 19, 2007 at 1:52 PM, abitare (58.10) wrote:

Congradulations,

440 Points in a day! I had 393, I thought I was the one day winner!

ROFL! I am closing the remaining positive economy calls.  

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#4) On November 19, 2007 at 5:00 PM, abitare (58.10) wrote:

At the end of the day: I am up +418 you are up +412

ROFL!!!! I guess we are like minded! 

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#5) On November 19, 2007 at 5:45 PM, abitare (58.10) wrote:

Dammit, I just wrote how I beat you, then it changed:

dwot: +463

abitarecatania: +450 

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#6) On November 20, 2007 at 8:16 AM, dwot (97.03) wrote:

Yes, abitarecatania, my bearish view took a hit from mid August until this month where I've had a straight up ascent.

As I have stated a few times, I think smart money has been selling on strength.  Personally, I am out.  I have a very strong bearish outlook and I was out in July and that silly greed gene kicked in and I started picking the odd stock again, but it hit me, if I truly believe the market is in trouble, which I do, why risk my money? 

I think this is a market to cut your losses and let things settle down.

It has occurred to me that there could be a rally as we get into retirement savings season, and I might consider playing with about 10-20% of my portfolio, going in where I think people will put retirements savings, and getting out by March or so. 

But overall, I think with a credit contraction, everything is going to be hit, and it is going to be hit harder than people realise.

Of course, I can't predict how much money will be printed to smooth the contraction, but an absolute truth about low interest rates is that it takes away people's ability to get ahead.

 

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