monday market malady, page-73

Farsight,

I am with you on DOW futures. The classic case was last Thursday when at 1500 the futures were +44 and at 2030 they had dropped to -124, - and we all know what happened the next day. I personnally have gone short on this market in the short term. There is growing concensus amongst the talking heads on CNBC and Bloomberg that there is a problem with the Sub-prime loans and these will have an adverse knock on affect on the markets. Given that we also have rising oil prices and interest rates and a possible change of government at the end of the year - I believe that we will see some more down before up.

JWM