Golden Jackass Tobacco Shop

[JimWillieCB]

Ned Davis states that never has an economy seen a favorable environment with a recovery following a bear market of these proportions

he cited Japan as suffering through a multi-year recession, bordering on a depression, following their busted Nikkei bust

some points:
the bigger the stock bull market, the bigger and longer the hangover bear market
debt levels are still at record levels
foreclosures and bankruptcies are nowhere near resolution

WE ARE NOT GOING TO HAVE A PARTY FOR A LONG TIME

we are in a secular, not a cyclical, bear market
November and December usually begin the new bulls following devastating bears
but he doesnt expect much this late autumn

he is looking for a record down Dow day on record volume

he recommends for those interested in buying stocks here with a longterm perspective, to employ dollar cost averaging purchases
i.e. equal spacing of time or price points

me:
TODAY WAS A 85% DOWN VOLUME DAY, STILL NOT OVER 90%

/ jim