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

"Sell down to your sleeping point"

Tuesday, October 7, 2008

The great Crash of 2008

Pardon me if I fade this.

ok, pardon me if I try and convince myself..... ;)But.... This is only the 20th time we have seen this. The real difference is how Disorderly the trades are, especially in the special 60 wildly owned names....

I can get burned... But We have seen this so many times, If we aren't at the bounce we are near the bounce. and we can make the case that we are going to 6K... and the world will end. Well I have money for that. But Damn I'd love to get Csco at 16.

If we know one thing, that while we are in "the panic" Catching some good stocks at their lows, will be profitable, given time.... and once this is over... Like every other time, Most these opportunities in great blue chip stocks will be gone.

It's tough, but I think these are the time "The investor" has to come out in a trader. But I'm also not talking about taking 50K dollar positions.

But I'll also say that WFC has to hit 30 before this is over.

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