Cannot help but be a bit bullish. After last week’s decline there are just too many names trading below $10 and below $5(!) that predict a sever depression. Yes, things are terrible, the weekend news and commentators were a recipe for a massive dose of Xanax. But over the last week my positions have not been stopped out and that gives encouragement. Yes, it is a day trader’s market but am thinking we could get a bit of a rally. And, if shorts begin covering and just a wee little bit of sideline money comes in we could get sustainability. Another dose of false hope? One day at a time, folks.
Tom Friedman’s column in the NYT’s was so on the mark I have included the whole thing. It only takes a few minutes to read. It tells about the circle of demand, consumption, manufacturing, recycling of money and then starting again. It is this cycle that has stopped; and probably just in time. The Inflection Is Near?
