We are sitting on the biggest bond rating fiasco of all time. Much like the Enron, Worldcom etc. This will be much larger since retirements, pensions, insurance etc. are going to be involved. Watch out.
Natural resources are still my favorite but will get hit with corrections along the way. Set up a trading plan to avoid the pit falls of corrections. Either set up calendar/diagonal spreads, or place stop losses. Everyone knows my plan.
We are seeing overseas (England) starting to experience the same housing/mortgage/credit problems we are currently in. This stuff is spreading.
So why is the market going up I get asked? My explanation is rather harsh. People are stupid and therefore receive their just rewards.
I am staying the course and in fact picking up more gold on this heavy correction. I keep waiting for oil to correct but it hasn't yet.
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2 comments:
Dell,
When you're buying gold on this downturn, are you buying diagonals?
Debbie
I am diagonals right now due to the explosive moves that are coming. Normally I am a big fan of calendars, but we are not in normal times. Violent swings will be the norm.
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