Thursday, October 09, 2008 6:22:04 PM
You can bet that Joe Sixpack will be watching the market tomorrow morning. And when our useless President fails to save the day, Joe S. will call his broker and bailout at any price. SPY gets a 70 handle. The DOW cracks 6,000 as volume swells heading into a weekend.
Place a few cautious buys at about ten minutes before the close. Cooler heads will prevail over the weekend as people see a chance to buy quality stocks with single digit PE ratios.
There will probably be a lot of backing and filling for a few years before the markets quietly mount a stealth bull run. But, there is blood in the streets now.
On the flipside, it's hard to come up with a good reason to believe in America right now. Decades of corruption has come home to roost. There is no penalty for the thieves and honest people have had enough. When politicians are publicly lynched like Saddam was, then we will have turned the corner on our demise. Let the revolution commence! Ole'
MF4
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