mmmparsley1, you forgot the third group, those who went to bed on Monday wishing they had cashed out at Friday's prices. They got their chance today. Barry, history will tell if Fed was correct to act, but who (other than shorts) really wanted to see Dow 700 down followed by another 5-10 percent drop overseas tonight and what if that wasn't the end of it. David, if you own Royal Dutch/Shell I hope it's not because of their US oil Shale project which is in research phase and even they don't expect anything to come of it for several years. Myself, I'm sticking with my Canadian junior gold (can not be shorted, can be acquired), a couple of beaten down Chinese stocks and TRAMX (Africa/Middle East fund) which just took a big hit; and plenty of cash for now.
Alan, what I really hope for is the creation of a new watchdog agency comprised of ex insiders turned whistle-blowers to prvide visibility and to monitor Wall Street/Main Street players. Without those con men's "extracurricular activities" subprime lending and other related issues could not have caused problems of this magnitude. My issue with professional shorts is that they artificially push down the markets below reasonable levels- let's not forget that not all market participants are traders and do you really want to see grandma's retirement account take a big hit? Aside from that my big problem with professional shorts right now is that many of them are the same people who caused this mess on the other side. In US criminals are not allowed to profit from their crime. The same should apply to Wall Street.
Keep Your Seat Belt Buckled - The Ride Has Just Begun [View article]
These cookies may be laced with rat poison. I'm itching to put my 30% cash holdings into use, but the so called bankers might have another surprise for the small investor-we'll know soon. For now I'll go with junior gold, TRAMX and a couple of beaten down chinese stocks. Meanwhile I like to see a new watchdog agency created-made up of ex insiders turned whistle-blowers to keep an eye on the wall street con men. In my opinion that's the only thing that can raise small investor's confidence in the system. Also place a ban or major restrictions on professional level shorting (have you noticed how Bloomberg's pushing Proshare ultrashorts lately).
Good call so far, if you didn't panic and dump early this morning. Thanks for the article. By the way I'm hoping something positive comes out of this mess such as a ban or restrictions on professional shorting.
Get Serious - Bears Did Not Cause This Selloff [View article]
Bears didn't cause this, but the professional shorts are making things much worse than they would be otherwise by kicking the market in the face while it's down. I would like to see a ban or major restrictions on shorting by pros.
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Get Serious - Bears Did Not Cause This Selloff [View article]
The Bear Turns Mildly Bullish [View article]