All Points South
March 6, 2008
At this point there isn’t much else to harp on here. Cash is certainly king and you should either be in cash or operating in commodities. I would continue to avoid “value” plays, the likes of AAPL, GOOG, RIMM, and BIDU. It is madness that in just a short few months stocks can become value plays? No way, do not fight the overall trend which is DOWN. We’ll experience a few short bursts of strength but will be sold. Bear markets tend to get really oversold before they become attractive to the long side.
We need the FOMC NOT TO LOWER RATES any more, in fact the Target Rate should be raised and the discount rate be made an ACTUAL DISCOUNT RATE!!! Why? It is time to flush the garbage down the toilet rather than salvage it. If you were dumb enough to buy a house you couldn’t afford in the first place you deserve to lose your house. However, I am afraid the FOMC will inject more liquidity in the market than expected. Look for commodities to continue to run.
Cash is King
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