Putting the financial tsunami in perspective takes courage. Wall street is having a tough time figuring it out. THERE IS NO CREDIT. Commercial paper is dead? Global panacea is required at this time. AND most of all a CONFIDENCE STIMULUS if you may. Get the media to focus on analysts to come out and say IT WILL END... instead of focussing on Lehman Brothers' CEO and how unfair it was for him to have received MILLIONs for the failure eventually of LEHMAN.
I could go on about this market losing its value to not just recession fears or even depression fears but lack of confidence that things will ever emerge better. There is no light at the end of the tunnel. All indicators have been thrown out of the windows... THE FEARFUL VIXX -measure of panic is at all time highs... or so... TECHNICALS say we are way OVERSOLD. And rational thought may indicate that we are in the worst of turmoils in the financial world- what could be worse than credit is frozen- business are frozen.
The bailout packet took to long to pass- TAKE THAT say the stocks worldwide. But it did pass. So CALM DOWN I say. Looks like we wont take off- and buy stocks until there is a CO-ORDINATED move globally to CUT rates. ECB first- they are too slow, arent they? What are they thinkin with rates above 4% still. INFLATION? Dont they see OIL is not at $140 anymore and no one is predicting OIL to go to $200 anymore. I hear predictions of OIL going to $50... or in that direction, if you will. Commodity prices have been slashed -takes pressure offf inflation, one would think and release the pressure - REDUCE them rates all countries and the global effort will percolate into confidence-! Thats what markets know is good... for liquidity, for housing, for credit... low rates are good... everyone knows that. BAILOUT bills being good or not- thats uncertain -as its a FIRST... for this market to digest.
Get the jist... there's always more to be done. I suspect that markets BOTTOM- that is it- Short term bottom, mid term bottom, long term bottom... some time this week. Maybe we have turnaround TUESDAY... and all those who are waiting to GET IN... believe me theres lots of private money... and wealth ... lots in money markets... lots UNDER those mattresses... making pretty much nothing... All of that trickles into these undervalued markets- when viewed from the LONGER point view. TOUCHE.
Not many as optimistic as mona... what do I care... I started this blog- when all hell broke lose- last august- and my point is confidence is moot- then all follows. People, dont lose it... when theres not much more to be lost, theres lots to be made.
Give me a line of feedback so I know I am not alone out here....
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