"nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance"
Many of you will recognize the the above quote as the end of FDR's immortal "We have nothing to fear but fear itself" line.
The line of his 1933 Inaugural Address that got the loudest ovation was "This nation is asking for action, and action now."
I have to give credit to George Bush, who stepped up to the plate again for the second time in the last two months to support an unpopular but extremely necessary bailout. I've not been a fan of George Bush for the last several years, but I intend to remember him as a man who responded to a nation clamoring for action in a manner that was heroic.
Bush's call to bailout the Auto industry helped the market immensely.
Today was a critical day. As you know, I have been predicted an imminent "Bear Rally" for about a month now.
Today's action is a strong indication that this Rally began on November 20th.
Over the first five trading days beginning 11/20 the market ran up 1277 points.
It then dropped 675 or 50% in one day.
The two days after this cataclysmic looking drop the market rose 442 points.
The next day it dropped 215 or 50% in one day.
That was yesterday.
Today we were up 259 points in what looks alot like an imminent break out.
I have said for awhile that I expect this "Bear Rally" to be huge and to carry us up to 10,500 on the Dow by mid-January. I'm sticking with that prediciton. I did not pluck that number out of a hat. 10,500 is about 42.5% off the bottom.
I have attempted to position us to take maximum advantage of this rally.
I expect to make alot of money in the next 6 weeks.
Obviously, the one potential cloud on the horizon is a Big Three bankruptcy, but I don't expect that to happen. (If it does, I may change strategy.)
Many of you will recognize the the above quote as the end of FDR's immortal "We have nothing to fear but fear itself" line.
The line of his 1933 Inaugural Address that got the loudest ovation was "This nation is asking for action, and action now."
I have to give credit to George Bush, who stepped up to the plate again for the second time in the last two months to support an unpopular but extremely necessary bailout. I've not been a fan of George Bush for the last several years, but I intend to remember him as a man who responded to a nation clamoring for action in a manner that was heroic.
Bush's call to bailout the Auto industry helped the market immensely.
Today was a critical day. As you know, I have been predicted an imminent "Bear Rally" for about a month now.
Today's action is a strong indication that this Rally began on November 20th.
Over the first five trading days beginning 11/20 the market ran up 1277 points.
It then dropped 675 or 50% in one day.
The two days after this cataclysmic looking drop the market rose 442 points.
The next day it dropped 215 or 50% in one day.
That was yesterday.
Today we were up 259 points in what looks alot like an imminent break out.
I have said for awhile that I expect this "Bear Rally" to be huge and to carry us up to 10,500 on the Dow by mid-January. I'm sticking with that prediciton. I did not pluck that number out of a hat. 10,500 is about 42.5% off the bottom.
I have attempted to position us to take maximum advantage of this rally.
I expect to make alot of money in the next 6 weeks.
Obviously, the one potential cloud on the horizon is a Big Three bankruptcy, but I don't expect that to happen. (If it does, I may change strategy.)
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