face down friday, page-53

carnage has not stopped yet!

next phase is financials conducting billions of dollars of captal raising - merril lynch announced they raised $12 billion from existing shareholders. This is strikingly similar to the tech Crash where techs had to raise capital and in turn were burning that cash like no tomorrow.

But that's ok, the real problem is with financials since all their buy backs are no long relevant is upon raising extra cash it will dilute the &^%$^&*% out of the stock!

I am still inclined to think the DOW will bounce at the 12,000 level like the rest of the world and this level will definitely be tested. Reversal of trend?... are you n*&TS@