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Friday, March 06, 2009 10:07:06 PM
I agree with what you are saying in the Blog, but I believe that ultimately we are going to see levels well below what you put down, but now I believe that soon we will see a quite sizeable market rally as many are predicting. Why? Well, I believe in Da Playerz, the specialists, the boyz, the gorillaz or whatever you want to call them. In order to "keep order" in the markets they have had to accumulate a massive amount of stock at these levels in the past few months. They are not going to lose money on these purchases. They will rally when the "news is right " to rally. Will this be with mark to market changes, uptick rule reinstatement, or something else I don't know. It could be that when earnings come out the horrible reports that companies put out aren't as horrible as predicted. I don't think we are ready for that rally yet, but it may happen this week.
After this rally we will sink and in mind sink fast. I think some major companies may be no longer at some point in the near future. Who news which ones or when, but it will make make this drop seem like a slow drip. This will make investors not want to get back into the market for years to come. They will miss the buying opportunity of our lifetimes.
In terms of next week I think we still have some ugly at some point as the R3 from yesterday still needs to be profited upon. My guess is up early in the week, then down sharply (maybe shorterm capitulation), then a possible rally on the mark to market. We shall see.
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