Tuesday, October 07, 2008

There's nothing like a steady hand at the tiller during a major economic crisis

Nothing Like a Steady Hand at the Tiller During an Economic Crisis
Wish we had one.

2 comments:

Dr Bud Diablo, Market Maven said...

Be of good cheer, MadGuy. The market "rallied" today to finish only 100-odd points down. This development was widely hailed as a sign that the markets are "stabilizing."

It really is amazing what's starting to count as glad tidings. I've enjoyed some "good" "luck" on the personal front too. I converted my 401-K long positions to cash before the latest 20% drop, so I feel like the cock-o'-the-walk. True, I'm still down a (mere) 15% from the start of the year, but in today's investing environment, that's a sort of "gain." And I picked up an extra grand this week shorting one thing and another, although I got caught leaning the wrong way today when the market "surged."

I predict Dow a Dow below 5000 before the smoke clears. MadGuy, could you repost one of your warnings about $200 oil and soaring commodities due to insatiable Asians guzzling and gobbling all producers can deliver? I miss those days.

"Shorty" Diablo, Profiting from global calamity said...

I was busy tinkering with my Fantasy Football lineups in preparation for some crucial showdowns this weekend, so I just now learned that the Government will be buying equity stakes in wobbly banks. Woot! The good news just keeps coming. Why, I wouldn't be surprised if the Dow "rallied" on Monday to close just 40-50 points lower. And after the financials experience a short-lived uptick on the news, I can short them and get back another few hundred bucks of my vanished retirement savings.