Quote from ByLoSellHi:
2-28-2008
Get out. Get he hell out of the market and go short. Forget volatility and trading. Just get out.
There will be a vicious, swift correction in weeks, not months, as institutional finally lose any faith that the U.S. Central Bank can't deal with the problems we have. The Federal Reserve is impotent, and it will take a colonic cleansing of bad debt, wiping balance sheets clean, and bankrupting many companies, before clarity can return, and real economic growth can be possible again.
You will be able to buy equities at much cheaper levels once this process runs its course - probably in 9 to 14 months.
Stamp this date and see where we are 3 months from now. I'm not leaving ET if I'm wrong (although I'm highly confident I'm right), but I'll definitely not avoid this thread, and I'll eat crow in front of all if I am.
The market has given a final chance to get out of your long positions at non-catastrophic levels. Seize the opportunity to do so.
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