Quote:
Originally posted by jinxed
Investpro apparently you need a class in economics 101 - see if you can find some material in your local library.
Dow jones will fall through 4500 - BDI is frozen,housing , umemployment, credit all are frozen - the full wrath of CDO unwinding is yet to happen, which will take down C or BAC or maybe both. GM is days away from bankruptcy and with it will go all the parts suppliers.
Nouriel Roubini and Paul Krugman are celebrated economists and not mere prophets of doom (I am an avid follower of both) - in fact Roubini called the current crash back in 2006
A smart investor goes with the trend - I have made very nice money buying puts and bear spreads. Also currencies and commodities are an excellent play. Your misguided optimism -( read wishful thinking) will only lead the readers on this forum to l0se what little they might have left
Hi Jinxed,
Just as an FYI, I attended Roubini's seminars in 2006 and 2007 and he attended one in the fall of 2007 where I was a speaker, basically to listen to what I had to say on India.
I do not purport to be in the same league as he is, far from it.He is a real Dada and is constantly involved in the study of economics. I am a mere small time potato.
What I wish to suggest is that I do not need a course in eco 101.
Your trip if you think I need one.
OK I owe you an explanation for my rather harsh response - my post was an original - but you just copy pasted an aritcle - rather than refuting my post (which you actually did in the later posts) - I just get annoyed by people not having any originality and pasting articles when they might write a couple of lines and just post the link.
I also very much appreciate your dignified response - you made your point without indulging in counter insulting - need to do more of that myself. You also command my respect because of
Ok pleasantries exchanged, now what do you think from a fundamenta/technical standpoint will keep the market from crashing down to mid 4000(next major resistance ) now that it has broken past the very strong 7400.
To me North American consumer is what makes the world economy tick and it has retrenched - which causes unemployment (first in retail and then ripples across to other sectors) - causing further retrenchment - you see the vicious cycle ?
Rajiv,
I agree you need to be frugal, but more than that knowledge will help you ride the tide - you know how to short the market ? If not learn it - study options and look at things like oil trading - thats what will help you keep a steady secondary income even if you lose your job - Knowledge is Profit.
Anyone trading in put options on this board. If so how are you doing?
Also the self proclaimed Canadian guru of active investing Derek Foster recently offloaded all his stocks saying that markets are overvalued. The week after he did that stocks are up 10% on Citigroups positive report. Derek is an advocate of put options so wanted to see the experience of people on this board.
I am not an economist but I strongly believe in law of nature. We are responsible of creating all this mess. So much automation has been created in our lives. When computer/machine can do a job then where is the need of human being. We are heading with a fast move when robots will take our place. There is no law to stop such kind of research. (Wait, we will have human clones also)
Scientists are so concerned about the research of other planets and government is wasting billions of dollars (e.g. NASA) on such kinds of research which will make no change in our lives (Of course it will change the life of a scientist)
Nothing will recover sooner or later. Only big natural disaster can put the life back on track when we will start building the nations again.
So, don't beleive in economists, think logically and u will get a clear picture.
Newton,
I was short - bear call spread (-60/+65) RIMM feb option - made very good money.
Was also short Mar SPY - lost some and closed position due to the recent rally .
I am out of options market - into currencies and commodities - short USD, long Crude Oil far for APR but starting MAY I expect the bear market to resume its course and DOW to close below 6000.
If you want sepcific answers comment on economyzombie dot blogspot dot com
Quote:
Originally posted by jinxed
Newton,
I was short - bear call spread (-60/+65) RIMM feb option - made very good money.
Was also short Mar SPY - lost some and closed position due to the recent rally .
I am out of options market - into currencies and commodities - short USD, long Crude Oil far for APR but starting MAY I expect the bear market to resume its course and DOW to close below 6000.
If you want sepcific answers comment on economyzombie dot blogspot dot com
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