November 19, 2007
– Comments (6)
gotta love it. This post made my morning.
I could not have said it better! Sometimes a picture is worth 1000 words.
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.
At the end of the day: I am up +418 you are up +412
ROFL!!!! I guess we are like minded!
Dammit, I just wrote how I beat you, then it changed:
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.