NYSE Euronext (NYX)

[Not_Bill_Oneil]

Careful of what Bernanke stated...

They are ready to take decisive action.

They are not going to take action right now - rather, they are ready to take it.

So, if the market, anticipating cuts, claws it's way up, do you think they will act? No.

Only if things continue to get worse, will they then take decisive action. Once again, they are likely to not only send this market down one more time before their January 30 announcement, they are going to let it. Then, and only then, are they going to take decisive action. That's the only way we get anything we need. At least that's the way I hear it.

I'm staying cautious.

I'm net long, but, going to wait with a pile of cash and see how this plays out.

I suspect they are going to let us and the economy end up like the guy in the quicksand commercial. They'll throw us a rope eventually, but, it's going to be at the very last moment and we are likely going to be all the way under first.

Be prepared, take a good breath, do what you can to protect yourself, and you will make it. And know that Bernanke will congratulate us (and the Fed) later for having made it through this.

GL.