Thursday, November 1, 2007
Yesterday, Today and Tomorrow
Yesterday. We discussed unexpected change
Today. We watched - unexpected change - the Dow Jones Industrial Average closed at 13,568, down 362. It was expected to stay even or go up based on the Fed rate cut.
Tomorrow - and the upcoming weeks - we will see the Dow Jones Industrial Average either exceed 14,300 which will become a base from which the Bull Market will continue OR, we will see it penetrate 13,300 which will become a ceiling to what possibly will become one of the great Recessions. (there will be lots of activity between 13,400 and 13,300 - the quicker the fall thru 13,300 - the quicker...the quicker!)
What will it be. I guess more and more we are being encouraged by less than half truths - poor speculation, etc. to the points that the "Dogs are Howling."
No public official will ever forecast gloom and doom - so everything they are saying - is an attempt to wish away their greatest fear.
It's very simple: Money talks and bullshit walks.