thanks, my post was disjointed because i am squeezed for time. key points remain, that while our economy looks good, our financial stocks have to reprice their assets and that might expose some red faces. plus they are exposed to global credit, there's billions of dollars of Allco, Centro, ABC type paper out there and its going to hurt, and thats just the Oz paper.
as for shorting, well, you gotta be careful. we knew the jan 22 fall was coming to an end because our friends in london who had lent out script to short sellers got the calls from the owners that they wanted their securities back, so we knew there was going to be a rally - call it a short squeeze.
no one knew about last nights announcement, but what do they do noext? cut rates again. 50, 75bps?
what, they tell the world its THAT bad?
hey, i'm still long on my super money, i believe in time in, but man its gonna hurt a lot before this gets better. and that could be another 10 years of hurt. or, we could be back at 6000 and dow 15000 in 3 months.
i speak to a LOT of fund managers (log story). they're all the same. fundamentals are good, but man, theres a lot of bad debt out there that has to be written off
