June 18, 2008 = Black Wednesday
- Thread starter naufal
- Start date
Keep in mind though that the markets have a tendency of rebounding huge when least expected...
Were not going to get a true longterm buying opportunity until we have real fear and capitulation.
That will be when everyone thinks the fed cannot do anything else to save us.
That will be when everyone thinks the fed cannot do anything else to save us.
I'm a performance-based RIA, and you should hear some of the strange things people are doing with their money. Young people getting out of the markets (at a low, of course), and going into cash. They're not even keeping pace with inflation, and are young enough (35-50) that they need growth if they are to have any chance at having money later in life. They're saying "we don't care if we're losing money, we're not going into stocks. Have you seen the news?"
I'm about to go into buying mode.
I'm seeing, and hearing fear at about an 8 out of 10.I was afraid you would say that. Where do you think the spx, Nas, and dow will find support?
I'm cringing, as I'm long in my Client Portfolios, and ahead, but only up on average 4.2% over the last several Months. More bleeding in equities would really suck!:eek:
Looks like a nice set up for shorts tonight, S&P just above resistance, poor earnings, oil high, inflation high. If the fear sets in theres much that will hold the market up.
If you remember there have been a cople of days that looked like they were going to be terrible but the fed bailed the market out both times. We need one of those days with no bailout so the market can find a floor and we can all get back to normal.
Cheers
If you remember there have been a cople of days that looked like they were going to be terrible but the fed bailed the market out both times. We need one of those days with no bailout so the market can find a floor and we can all get back to normal.
Cheers
confirmed thursday 2:06pm nytime