mcsweeney defends his decision to sell , page-4

G'day OB

Yes mate I am on the same bus as you atm. I have sold all GBG and I am looking at pulling all funds out of the market over the next week.

The "all time high" talk of the DJIA is just all too familiar and the penny dropped with me over the weekend that Nov 1987 was very similar. Look at the other posts on HC about the DJIA and the charts show it all the dow is going to go higher but for how long. IMO not long at all apart from manipulation leading up to the US elections. the analysts have mixed views but I am with the bears on this one.

For me I am going to sit this out and wait for the re-entry point. I predicted that gbg would come back from the .47 mark and I don't think we will see it past that point until some sort of market correction occurs. We could just sit and wait and GBG will go well, but any short term movement is going to be just that it seems.

I may be pessimistic but I do remember all too well 87' and the followup to 89' (beginning of a major property boom). This time I will be ready to take advantage, rather than be taken advantage of.

If the market does go down on the dow then I believe we will see better than .40 entry back to gbg. And I will re-enter.

Downramping? No just being a realist with what I have learnt of the dow in the last week. The dow chart is not sustainable and those that believe it will, have short memories. The asx will follow it down rapidly when it moves, so watch it very very closely.