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BUT....The big issue is the one no one is
discussing....yet:
JOBS.
We've got much more downside to come in that regard
IMHO.
Especially the PUBLIC SECTOR....that was reliant upon REAL ESTATE fees,
taxes, etc.
I would expect jobs to go first at the local government level, followed
by the state level,
and only last (of course) the federal level.
When jobs tank, we've got 24 to 36 months of rebuilding before this
market will see some upside.
ONLY When Washington is laying off, then MAYBE it's time to
buy.
Paulson is getting half what he asked for with a vague "maybe" on the
other half. Will that be enough to rally the market? Maybe, but
even if it is seen as a dramatic enough action, it only gets us back to where
we were. ie: Faltering economy with spiking energy and food prices
along with an inflation rate which is at best, alarming. Earnings are
sure to come down, over-all, and the housing mess is years away from calm,
even in the best scenario. I think that for equities, it isn't going to
be easy but as traders, it is going to be a time to make a great deal of money
on short term trades. Buy and hold, (investments), will only be for
my IRA accounts. Let's be nimble and play the momentum.
Bob
On Sun, Sep 28, 2008 at 1:15 PM, Ben <profitok@xxxxxxxxxxnet>
wrote:
Now ...will it matter ? Or is the economy too weak...are we going to
have a buy the rumor sell the news as so often happens on Wall Street or
will this takeoff and never comedown ?
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