Sunday, October 12, 2008
Look for Big Up Day for Broad Financial Markets
If the $indu retraces this past weeks loss I look for 1000+ point rally tomorrow. I will await confirmation of gold stocks P&F charts before adding to this trade. Follow blog of Tim Knight he is very bullish at this time.
I am not the only one upset at the performance of the Fed.
In a Barron's interview of highly-respected money manager Jeremy Grantham:
"This is much worse than I thought. All the fundamentals are turning out worse than I thought they would. All the competencies of the senior people at the Fed, Treasury and [top-tier firms] have turned out to be much less than I had expected; that's very disappointing. And, therefore, how could one's confidence that the senior people would get us through the storm be very high?"
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