They're being mostly made in the media, on TV. TV networks seem to be pushing the "help america, buy/don't sell stocks". now personally i think it's kind of irresponsible. Trader audience here is the people I'm least worried in this regard but the average TV viewer in this country does not even know what to sell short is. The calls may be very dangerously interpreted by the general public. Extreme case would be someone deciding to "help" airlines by their stock today. People's equity holding are in serious danger now in face of a possible severe and PROLONGED downturn. To tell them to hold on no matter what and even buy more is not right, I think. Perhaps telling people to keep off shorting would be more reasonable but then the American public at large does not short, so. People should be protecting their equity holdings as aggressively as ever now. The action is controlled by institutions who I think and hope are selling. The Europeans won't hold on, the Japanese won't. The list of reasons why these calls are not a good idea goes on and on. The reason I think and hope that instituions are managing their equity holding proactively right now is I would hate to see the multi-billion positions of American pension funds, mutuals etc. hopelessly deteriorate and hit hard the wealth of the average American who is invested in those funds. It is every pro manager's responsibility to investors to be very aggressive in managing their holdings during this period.
Since you touched on a very sensetive area, I'd like to share with you the following email Tony Oz has sent CNBC and forwaded to me. I asked Tony if I could post his email and he gave me permission to do so. Bill
Sniper, thanks for posting that.. Tony is right on.. alot of people could be hurt by this irresponsible position of CNBC.. in 5 years the major indexes are almost certain to be higher than they are now.. unfortunately, as was pointed out by John Chambers recently, many of the companies that comprise our indexes will not survive over the next few years.. i feel for those who blinded by emotion stepped in front of the screaming train we had today.. i hope CNBC pays attention although i have to admit, i doubt they will adopt a non "politically correct" position.. -qwik
sniper - thanks! there is a difference and other means to express sympathy, sympathetic association and feelings and identify with those who are suffering, and essentially all the actions that we are calling patriotic fervor. simply put, we are all humans, and we are all hurting, however, this should not be confused with the operations we conduct with surgeon's scalpels as we trade inbetween the swings. thanks T. Oz