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  • How Low the S&P 500 Could Go [View article]
    ************ Too Late to Short Not Too Late to Sell ***********

    Yes there is plenty of downside. Markets are about sentiment- that is why we have bubbles and eventual bust. The mood is real bad now- everyone wants the “get me out of here trade”. Redemptions, deleveraging, hedge fund blowups will have an even larger toll.

    It does not matter whether S&P actually goes down to 600 or 700 – you do not have to pick the bottom, within +/- 10% of top or bottom is great.

    Last week we saw no upside rally – one would have expected especially with all the policy moves. Friday late rally was in financials – we know that sector is only for suckers. This is a very bad sign. With G-7 petering out, next week we should see more of the same.

    Only way to play the market is on the short side – sell every rally – we will get one anytime now. At some point down the line start rebuilding the portfolio, ways to go for that.
    Oct 11 19:04 pm |Rating: 0 0
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