Replies to post #585828 on Zeev's Turnips Patch-No Politics (ZEEV)

[*~1Best~*]

Did you notice #9. The biggest bull on Wall Street, Abby Joseph Cohen, who stayed bullish through this, the worst bear market in years, retired yesterday. “I always love a good irony trade,” Cramer said.


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LOL

[lee kramer]

1Best: I'm not so sure. Is this a temporary bottom or a final bottom? It's my sense that it's temporary bottom. Rallies as we've seen the past two days tend to be up and violent. We shall see,

[CitationXFan]

What I didn't see in the "Cramer Top Ten" (correct me if I'm wrong, cause it happens quite often!!!) is anything to address concerns of people who trade the FOREX, and are watching closely as the value of the USD erodes. We hear about concerns of high oil prices, inflation, and all we see is the Fed trying to bail out the stock market.

I have three worries about the Fed's recent actions: 1)The bailout of BS now puts us on the hook for any other financial institution that engages in poor business practices (per your item 6), 2) We will soon discover that BS was heavily involved with other banks and institutions that will now have to question their own balance sheets, causing a panic for their own shareholders, and 3) the continuing weakening of the USD through these rate cuts will cause individuals and institutions to become incredibly conservative with their investments (i.e. Gold, Silver, etc.), and they will pull significant $$$'s from areas like tech, pharma, and other more volitile areas on Wall Street. Snowball effect...

Just my thoughts, feel free to correct me!