Tuesday, February 17, 2009
Oh well UGA is in the black
along with alot of others. For the first time I think the lows are going to be tested and breached. I hope its intraday and we move forward. Unlikely the 100 trillion sucked out from the worlds economys are not return able any time soon. When Japan was over 36,000 in the 70's and tonight neikke 225 is 7500 is scare. They were over 18500 last summer. The dow 145000 the same time frame. The dow 7500 hear. Too much damage done when we hit 9k after the 7300 low last fall I thought we were range bound 7300-9200. Did u watch Greenspan's spech tonight? He said as u will read the world markets are cheap right now. The facts he spewed out tonight in NY are unbelievable. And not too persuasive about the markets being cheap. There is a patriotism from Buffet, Greenspan and many others to stay calm buy now for the long haul. Its worse then imagined by me. Sell this week everything if we dont get details tommorrow on the morgage bailout and auto deal done. The futures are up a tad and Asia is rational. Europe is correcting 50% retracement like alot of us. No doudt the biggest week of my life in regards to economic fragility. If the uptick rule isnt announced we can all ride the ship into the ground and make some money. Hears to hoping we can bounce over 5 % in 3 trading days remaining this week.
Posted by John Burke makeitajob at 10:25 PM