February 18, 2009
– Comments (7)
Jesus Christ it fell 297 pts yesterday and it can't even hold a 20 pt rebound.
I just hope we don't break below 7,500 djia because my computer theory suggests we would have a massive computer caused selloff at that point and next resistance would be at 7,000 djia
Your computer theory? Have you even considered, I dont know, economic fundamentals?
no, because that would mean i would give my money to a mutual fund and lose 55% like the rest of the lambs did in 2008.
I actually made huge profits in 2008, and will do so again in 2009.
Turmoil is the best time to make profits.
I heard HEDGE funds got massive redemptions this week and that is one reason we re-tested lows. They sold their weakest holdings and repositioned their remaining funds into the strongest stocks looking forward. This will bold well for the rest of Feb. heading into March when the majority starts getting the average $4,000 tax refund per family with a single family house.
Time is seriously the best answer here, just wait it out. Recessions happen.