I think we can count on a bounce.... I don't know what is going on with AIG.
hmmm but, everything says, buy weakness right now.
Maybe AIG blows up and it's Armageddon..... or It's just craziness, and It sucks for shareholders, and employees, but I suggest ... I want to see it blow... but the shorts are all in, cept the daytraders. Everyone elses is sidelined looking for the opportunity.
Maybe it's a thousand points down... but I just read Barry, and his traffic spike is the number one indicator and the traffic was much weaker than today, which says we capitulated on monday, and hit "a bottom tick" this morning..
Or Armageddon.
My VXO shows a huge spike this morning which was larger than anything e but the jan lows... That jan stat was an out layer figure. since is was the "SOC GEN" low. the news papers, and that again even cramer isn't calling bottom..... and all the 1987 calls.....
Assuming no Armageddon, it's a tradable low, and buying weakness is a good idea. You have the bunker indicator, the barry traffic spike, Vix spike, VXO spike, 90% decliners, huge news paper stories, all showing the same sad woman.... Full on crazyness. It's a low, and today we built a base. We could get down futures, but it's a buy.
Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
J. P. Morgan
Tuesday, September 16, 2008
a bounce
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