Friday, October 10, 2008 2:41:15 PM
How are you mate? Well after my one big hit, I laid low, until I got caught in Lehman, yet recovered from that in the pinks somewhat.
Now caught in Merrill and MF.
That said I had predicted a precipitous drop in the market, I just did not think it would unwind this fast and furiously. I told a friend just 3 weeks ago I thought the DOW would hit 6000, and settle there for sometime. Yet I thought it would take till the middle of next year for it to happen.
A 7000 point drop since Oct 2007.....well I think it is the end of capitalism as we know it. And perhaps for the best. And no, I am not being dramatic....this era of absolute unaccountability could not endure forever. And yes, both political parties are to blame....no one was minding the store. No one.
The question now is, can LVLT, GM, F, and many others survive.....
Cheers
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