Today was a lower volume down day. But since shorting has been significantly reduced, who knows what the volume means? Price is the only thing that matters at this point. The low of last week is the swing low to watch. Price of the VLE can move down to the July low and I expect weakness into October. But this is not time to get brave. The bottom could fall out on the October 10th.
I am normally not this worried. But the financial world depends on idealistic idiots. Good luck to those who think we should let this thing fail to save a few pennies. Life will be much more difficult for all of us. My only request is that you never say to me, “I didn’t know it would be this bad”, because that will really piss me off.
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3 responses so far ↓
Andy,
i share your fears…at the same time, i also share your hopes that they will figure out a way out of this mess….
Kurt - There are many ways out of the mess. But the people in charge have many agendas and getting us out is only one… and maybe not the primary concern.
we are already seeing some stupid politicians saying that they don’t see why we should bail out the big Wall Street firms, etc etc…
things are quite murky right now,…
maybe you will be proved right once again….I hope so…