January 11, 2008
Don't you just love the markets? The manipulators just love a bucking bronco. They make money by whipsawing everyone else. So we have now seen four 200+ point loss days so far this year. That may be some kind of a record. Next week one of the things the market is waiting on pins and needles is, how the retail sector performed last quarter? I'm sure that it will react surprised. So that we're not surprised I thought this table shows it pretty well. I suppose this means that we may see another 200+ point drop because the excuse will be that they were blindsighted? Yeah, right.
As to a recession, my feeling is that the sooner the better. The longer we stretch this out, the worse it will be later. It's like a forest that's never allowed to have a fire to clean out the brush. Instead, now when there's a fire, it's worse than ever. Same with recessions. We had one after 9/11 and we came out of that one. Personally I think we're in one already and as much as it pains me to fill up the tank, life will go on. Europe already is paying around $8/gallon. So if we think we have it bad ....
Hope you have a fine weekend. Pete
 Source: CNNMoney.com
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