http://finance.yahoo.com/news/Reces...5.html?x=0&sec=topStories&pos=1&asset=&ccode= Yet another report suggesting the worst of the recession is behind us, both globally and in the USA. Surely there must be some truth in all of these independent studies?
I'm not so sure you wanna' be on the same side of the boat as Abby Joseph Cohen. And please don't call me Shirley. (Seriously - when will people understand the basic concept that we're still shedding jobs like mad, foreclosures are at a record level, asset values are plunging, banks are in a death spiral, and credit is tight - three of these things were confirmed just today. How TF is the bottom in? This is all bullshit. So fuck that absolute noise.)
There's Ivan, always hanging around, wishy washy to his true self, making sarcastic comments, absent of ANY substance, in bearish, bullish or neutral threads. Hey Ivan, have you ever decided which way the wind was blowing, besides out your ass?
Ok Bylo, I hear ya. So where do we go from here? What are you doing to prepare yourself for the worst?
I follow price action. That's why I'm wishy washy to you. I don't have the arrogance to ASSume I'm correct. I let the market tell me where to go. I know, it's a foreign idea for you. Don't get mad at me just because you choose to be the anti-stock_trad3r of the forum.
Staying liquid, completely minimizing purchases (as I expect more deflation), and biding my time. Unlike some claims made on here, not all very bearish people are gold bugs who are planning on setting up camps or shelters, shored up with their gold bars and firearms. I expect cash to be king, as very little gov't stimulus or financial rescue cash has made it into the real economy, I thing China is incredibly inflated, and all currencies are relative (the U.K. is intentionally deflating the pound sterling, and King admitted as much). I've watched people think they were going to take on this recession/repression/decession/whatever you want to call it, and grab it by the horns, and manhandle it, and all they did was work furiously hard at getting themselves into deeper and deeper trouble. Sometimes, the smartest (and hardest) thing to do is be patient. Catching falling knives is a very risky activity.
You've missed this massive rally AND you're sitting on cash?! I would have at least assumed your capital was tied up in other places. Since you are on the deflation train, why not put some of that cash to work in bonds?