Hello my loyal three readers…perhaps two now because of my hiatus.
I was a little bit early on my short call on the market but I remain bearish on the market for at least the next few weeks. Consumers and businesses are still being squeeze by the lack of credit but also by the lack of opportunity. There are few opportunities for businesses to generate money other than cut costs which many are already doing (with the exception of Goldman Sachs who makes golds out of dog crap – excuse my French). My forecast, which I am reluctant to do, is that the S&P will find some support around 830-850 so there is about 5-7% downside at this time. But in the end, we all know that people will have to find a place to put there money eventually.
But this blog will be updated a little more often but less about trading but more about education and analysis. For those traders, I will still update my trades on twitter but please don’t depend on it for trades because I am not the best at keeping it updated. However to keep everyone busy until my next post, here is a great article from Michael Lewis about AIG that was published in Vanity Fair.
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