friday fandango, page-116

Well, after a weekend to ponder the markets amongst other things, I'm expecting xjo 5860 tomorrow. I may or may not trade the fall, will see how the day progresses. But thats just play money. Given that I'm 100% cash atm, I'm not investing large cash long until I at least see a double bottom - and a double bottom with a lower second leg on a closing basis is still suspect. It may be that I don't invest long until October at the earliest. The official reassurance brigade has been out in force (Costello, paulson et al) but they have also made previous reassuring statements about the limited spread of the subprime credit crunch, and been proven wrong already. Cash is good atm, gold is possibly better. cheers!