I said the market will likely revisit last weeks low HOWEVER we are already OVERSOLD and due for a SHARP snap back rally maybe even today! Indeed if you listen you could make money today mid afternoon in a big way AND perhaps thurs and fri to the downside. .... >>> Wow mourning futures do not look good folks. The aforementioned thurs sell off is here in earnest this is starting to roll downhill in a scary way. >>> An Australian Hedge Fund refusing to give money back is the rumor today ( I have to chase it down) Yesterday it was a money market fund that supposedly blew up. But what is really happening? >>> Kravis yesterday had to call on his bankers for loans he thought other's were going to shoulder for a big acquisition more and more banks have to step up now this causes a real stress to the system. >>> Fri we get adjusted GDP I think it's going to be a rosy adjustment and might refocus things back on the economy-- after the puke down today perhaps in the last hour today-- I might make a general bet on a upside for friday but as we have been seeing upsides come with less volume these days. ~ stoney
One of the great ironies here as we are washed down the toilet is who is making out in all of this-- the debt investors! The very backbone of the breakdown is benefiting from new bank rates given to them (higher rates ) getting a better yield on their investments. This German bank situation is interesting to be sure. Undoubtedly in the last year some very crazy lending was done. So much as to crash the system? Can that be possible? I don't think so. exasperating the problem will be Hedge Funds not allowing their clients out causing a panic.. but what are these funds? When you sign up for high returns in the buying the debt of various companies, using leverage instead of languishing as most common folks do in a a convertible bond fund... you ask for a little bit of trouble. These fat cats will sue their way back into the game it's the small investor, you and me that get burned as usual. Our stocks go down because of their panic, their need to raise cash, etc. The stock market has never been fair in this regard and never will. SI PS: Bombay Stock Exchange benchmark Sensex recovered by more than 112 points in early trading today on the back of buying by funds in heavy-weight blue chip stocks. A glimmer of hope?