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FreeMarkets (97.11)

Wait for the Heavyweights

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December 30, 2008 – Comments (2)

With the lightweights trading on Wall Street last week and this week, its obvious that everyone was told to sit tight until the real trading will take place starting Jan. 5.  Is the market up or down these past few days is irrelevant, because this is the second string team.  Next week, we'll get a good idea what the next quarter on Wall Street will look like.

2 Comments – Post Your Own

#1) On December 30, 2008 at 4:59 PM, johnw106 (58.07) wrote:

I think the big money people have written off 2008 as a loss and are wating until the first weeks in Jan to do anything. They want to make 2009 look as good as possible, and at this late date any gains in 2008 will have little to no effect on the balance sheets. They want 2009 to look the best that it can by April-May to get new money/customers in the game.
If this thought has some merit, then we have seen the end of the large institutions selling, and they will sit on cash until next Monday.

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#2) On December 30, 2008 at 5:08 PM, johnw106 (58.07) wrote:

By the way. I am putting my money where my mouth is. All of my cash is now fully invested. Cashed out everything, savings accounts, bonds and tips, checking accounts are all at zero or near it. My entire net worth of a staggering US$ 2,000 dollars.....pitiful I know but its all I have. Besides I wanted to get as much into my IRA as I could, considering my late start in September.

100% equity stocks. After all its just money right? And coming back from no job and zero cash at the first of the year I am not doing to bad.

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