Time To Buy

[TomTom]

We have falled big time, housing slumps higher food prices with oil been in the picture every day things have got bad.
Looking at the markets behaviour all stops have been wiped out below 11,000 on the dow and even taking 5100 on the footsie out.
Yesterday I started building a postion on DOW & FOOTSIE.
Indeed my plan is that we have seen the low for now unless any more bad news comes out which is not factored in.
So on this note you heard it first here.
Time to buy and get loaded up.
This is a long term trade to be kept for months/years to come.
When the market declines I will short it, together with good money managent skills this should become a nice little earner.

SHOULD 5180 and 11080 be breached its then I will close of these longs.

Good Luck every one, happy days are here !

 

[mrpunter]

You may be right, but ask yourself

• have we seen the end of the credit crunch?
• is the recession over?
• have house prices bottomed out?
• where is unemployment headed?
• what's this thing about peak oil?
• whatever happened to flat eric?

 

[tantra]

i agree with mrpunter.

Although I think lower oil prices are possible, to push the market higher, i still think The US30 has further to fall (perhaps after a 500 point rise).

 

[Hoggums]

I find it hard to believe it's all over.

The Credit default swap market nearly went into meltdown when Fanny and Freddy got into trouble. It's a trillion dollar market that has completely lost sight of the goalposts. The fed had no choice but to bail these 2 out.

But It only takes one major corporation to go under, and then one seller of CDS unable to meet the insurance obligation and the whole deck of cards comes down. Maybe it won't happen - but with looming recession it's certainly a plausible possibility.

If or when that happens it'll make the current credit crunch look like a blip.

 

[TomTom]

Well closed of this postion aheas of the weekend ( poss more bas news )
My niebour today recieved a letter from a Subprime lender requesting that he seaks another lender as there rates are no longer comptetive. Reading though the lines of the letter another casulty of this crisis is about to come out.
16.25 all Longs closed.got 500 from DOW and 260 from Footsie

Will post more next week.

 

[tantra]

We've hit 11500 today.. i think now could be a time to sell..