One of the most obvious warning signs of a bear market is the inability to rally from heavily oversold conditions. Even attempt in last half hour was rebuffed and markets closed ON THE LOWS.
HEAR ME AND HEAR ME LOUD, this is not the kind of market you bleep around with, you get to as much safety as you can and don't be a hero. AND IF IT IS as I am saying it is, the bear is back, that means prices will go MUCH further below current prices. They look good now? will look much better later.
Remember who said what and when, and you will know what their opinion is worth. ON TV, the BOOB SQUAD, on the RADIO, a plethora of ignoramuses who don't even know
how to spell S E L L.
WITH backs against the wall, SURE....at anytime a rally could erupt, but SO MUCH technical damage has been done,and as hard as it is to think about, it could come from lower levels.
THE SPEED from which this decline has come takes your breath away and wasn't seen by many and has been unrelenting. That tells me something is horribly wrong, and lost of the damage coming after the DEAL to raise debt ceiling. These IDIOTS don't get it, maybe never will.
A free market system that is allowed to adjust for supply and demand will normally catch problems before they become bubbles. You give credit to anyone with a face, no fact checking, no one watching the henhouse, eloected officials oblvious like BIG BEN BERNANKE. They did nothing because the wine was flowing, wheels getting greased, money flowing into gov't so they could spend even more.
Gov't can solve all our problems? I don't think so, they can sure help create some.
D
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