Smart money now buying the dip.
One things that worries me though re this current pog hammering.
Do the powers that be know that some devestating financial news is just around the corner - the sort of news likely to drive gold significantly higher & cause general equity markets & the whole financial bubble to come crashing down??
I guess if gold starts its rally from 395 it is more easily managed for TPTB as opposed to a rally starting from 430.
And one last news item, confirming once again that Evelyn Waugh would have LOVED Nigeria:
Obafella has invited Bill Gates to Abuja, hinting that Microsoft may be persuaded to open a manufacturing plant in Nigeria, saving everything.
I think that the correction will continue, but not until Tuesday, 2/3/04.
There are still "concerns" about the terrorist threats for Monday, 2/2/04; specifically the threat to nuke New York.
Just my opinion.....
I think your apprehensions are valid but not in the extreme .The big correction starts monday by my estimation .Culminating on 02/20, friday .I am resigned to Bush winning another term, the economic cycles smile on him . They will frown upon the republican party in 2008 because of their blatant perpetration of fraud on the economically unsophisticated . Whatever, my motto is take advantage of opportunities as they present themselves .
The stock market wont crash as long as easy money prevails .That scenario is many months from changing .Inflation is prevalent, the govt. measures it acommodatively, not realistically .TIPS are a poor investment because the govt. establishes the rate of return based on their inflation measurements .Which are corrupt .What alternative exists except to play the entire spectrum of markets as they present their individual and unique sophisticated nuances ?Right now what is foremost in my mind is buying nem at 38 and change on the bounce off the 200 day moving average . A classic technical reaction . Then close the trade at 46 , current resistance of the 50 day average . Sounds too simple , yet I have to trust some methodology . That`s my opinion and I`m sticking to it .P. S. I love puts on GM at 50. May be too late though for the 50s , if so it`s okay. I`m looking for it to trend down to 42 before it levels off . Good luck to all and remember, today is the first day of the rest of your life . Yesterday is gone and tomorrow doesn`t exist .