Friday, October 10, 2008

No Bottom in Sight

At least not yet. The market is set to plummet again today as the world markets took a dive during the night. This could get very ugly folks and I hesitate to actually call the bottom, but it could be as low as 7500 for the Dow.

All resistance has been broken for a while now and panic selling is rampant. Unless you are long in an inverse ETF, it's best to watch from the sidelines until the blood dries.

On a brighter note, this is going to create a lot of wealth for new investors as they will be getting in at very discounted prices when this is all over. And it will be over soon, so sit back and watch the show; you won't see this many times in your life.

Try and have a good one,
Roger

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