xjo weekend zoomba lounge, page-119

We must be getting close to a low when all the worlds politicians are reading from the same script, starting with the head of the IMF announcing that the world is in a danger zone,( and I lost count of how many of these morons used the word danger ), Rudd pronouncing to an attentive audience of 6 nobodies at the UN Assembly that the stock market is a wild beast (who writes his material anyway ? )and the SMH headlines today with "The world is on the Brink."

Wind back to Sept 08 and it was the same script writers churning out panic headlines, and yes it did take 6 months before the market bottomed.

Ive been banging on about end of November being the low for a while, however a closer look suggests it will be 6th Dec for the DJIA. Reason being its 37 years from the 1974 low which in turn was 37 years from 1937 high (although it was in August that year ) I have about 20 price targets, none of which involve a dreaded C wave, but 950 - 1000 SPX seems to feature a bit, so I am not to confident there, but on the timing aspect I am.

So Biggdaddy, it was a good move ditching the portfolio, but keep the powder dry, as this should still take a couple of months to resolve itself. There will probably be small rallies which may tempt you to buy back in, but a bit of discipline will save you stress and $$$'s until the time is right.