Wednesday, October 8, 2008

I thought I has through with stocks altogether. But the signs continually point to the biggest oversold condition of all time. Yep it's time to buy. Even though the credit mess will take the economy down you have to call a bottom. We almost saw these extremes to the upside 2 years ago. Like then none of the technicians were calling for a reversal of the trends yet it happened. Now, none of the technicians are calling for and end to the downtrend. they dont want to call a bottom when it could keep falling. I dont want to be heroic but come on !! how can the people in charge (those who orchestrated the credit colapse) make any more gambles on a continued downturn. They have to take off the short positions sooner than later. How can hedge funds afford to sell their assests at such depressed values?Somethings not adding up.

No comments: