Hi Denman - lots of nervous people about. Comments about US National Debt and the US now being "owned" by Asia - the loss of power in the US Dollar and apparently many accounting scandals to come out of the states this year. Some thought provoking comments floated in a humorous newsletter called " The Daily Reckoning"...........fraud by big Pharmaceutical Companies ie Merck knew Vioxx was dangerous to your health.
"Apparently" something strange happening at these companies with accounting practices & urges for investors to quit the stock; Ann Taylor - Bank of America - Citigroup - eBay - Federated Stores - Home Depot - Google - General Electric - Yahoo! - Johnson & Johnson - Hewlett-Packard - Washington Mutual.
My business is mainly in property and I know a lot of shrewd people have exited share market and looking for position back in property now that the market has cooled and somewhat normalised.
Have to wait & see - but I thought the Armstrong Graph was pretty remarkable for its closeness to the market low in October 2002.
